The northern German defense supplier Vincorion has kicked off preparations for its initial public offering (IPO) in Frankfurt. The company, which specializes in power supply and mechatronics for defense equipment, is aiming for the highly regulated Prime Standard of the Deutsche Börse in the first half of the year, according to a statement released Friday in Wedel, near Hamburg. The first listing is expected before Easter. With the IPO, financial investor Star Capital, which acquired Vincorion from Jenoptik for 140 million euros nearly four years ago, plans to sell part of its shares. According to insiders, Star Capital is now targeting a valuation in the billions.
Vincorion itself will not receive any new capital from the IPO. The offering is being managed by investment banks Berenberg, BNP Paribas, and J.P. Morgan. Star Capital has already found buyers for shares worth 105 million euros: funds from Fidelity, Invesco, and T. Rowe Price have committed to purchasing the stock.
(Reporting by Alexander Hübner, edited by Ralf Banser. For inquiries, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and the economy) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).)
Jenoptik AG is a Germany-based holding company engaged in Optical technologies. The Company’s two photonic based divisions are Advanced Photonic Solutions and Smart Mobility Solutions. The Advanced Photonic Solutions division provides technology solutions in the fields of optics, laser technology, digital imaging, optoelectronics, machine and equipment manufacturers in the semiconductor, laser material processing, life science and biophotonics, industrial automation, automotive and security industries, sensors, as-well-as optical test and measurement equipment. The Smart Mobility Solutions division provides photonics-based sustainable solutions, including technology and services for road safety, public security and road user charging. The Company’s Non-photonic activities, particularly for the automotive market, are supplying of products, automation solutions and services for industrial customers (B2B).
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