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    SIE   DE0007236101

SIEMENS AG

(SIE)
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Siemens : Consultancy firm ThoughtWorks' parent co confidentially files for U.S. IPO

06/17/2021 | 05:11pm EDT

June 17 (Reuters) - Software consultancy company ThoughtWorks Inc said on Thursday its parent Turing Holding Corp had confidentially submitted paperwork for an initial public offering in the United States.

ThoughtWorks, which helps firms digitize their operations, was valued at $4.6 billion after a $720 million funding round in January from investors including Singapore's sovereign wealth fund GIC and Germany-based technology company Siemens AG .

Fidelity Management and Research and Abu Dhabi's Mubadala Investment Co are also backers of ThoughtWorks, which counts Delta Air Lines Inc as one of its clients.

Companies file for IPOs confidentially to withhold financial information from competitors for a longer period.

Turing's plans for an IPO come as companies make a beeline for public listings to take advantage of sky-high valuations in the stock market and the Federal Reserve's loose monetary policy amid the pandemic.

In less than six months, IPOs in the U.S. have already totalled $171 billion, eclipsing the 2020 full-year record of $168 billion, data from Dealogic shows.

(Reporting by Niket Nishant in Bengaluru; Editing by Krishna Chandra Eluri)


ę Reuters 2021
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Financials
Sales 2021 60 242 M 71 516 M 71 516 M
Net income 2021 5 596 M 6 643 M 6 643 M
Net Debt 2021 33 006 M 39 183 M 39 183 M
P/E ratio 2021 19,6x
Yield 2021 2,63%
Capitalization 108 B 128 B 128 B
EV / Sales 2021 2,34x
EV / Sales 2022 2,17x
Nbr of Employees 293 000
Free-Float 88,0%
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Mean consensus BUY
Number of Analysts 24
Last Close Price 135,10 €
Average target price 160,43 €
Spread / Average Target 18,7%
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Managers and Directors
Roland Emil Busch President & Chief Executive Officer
Ralf Peter Thomas Chief Financial Officer
Jim Hagemann Snabe Chairman-Supervisory Board
Hanna Hennig Chief Information Officer
Andreas Christian Hoffmann General Counsel, Head-Legal & Compliance
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