Kion Group, the world's second-largest forklift manufacturer, may go ahead with an initial public share offer later this year, according to a report by Reuters,
The news organisation reports that up to 25% of Kion is likely to be listed, thus valuing the whole company at around €2.5bn. The sale is likely to be one of Germany’s largest-ever IPOs.
Kion was formed in 2006 when it was split off from the Linde group. Chinese company Shandong Heavy Industry Group bought a 25% stake in Kion last summer, and has an option to increase its stake to one-third as part of an IPO.
In an emailed ststement, company spokesman Michael Hauger said the company and its shareholders (KKR & Co. and Goldman Sachs Group Inc.) are “actively monitoring the capital markets to decide on the timing of any potential transaction.” He said that Kion hasn’t yet decided on the timing, adding that an IPO would help to continue the company’s “profitable growth path and support its future strategic development”.
