Bayer sets cautious price for Agfa IPO:
This article was originally published in Clinica
Executive Summary
Bayer has set a price range of between E 21 and E 26 ($22.4 and $27.7) for the initial public offering of up to 55% of its Agfa imaging division - valuing the transaction at between $1.6 billion and $1.9 billion. The price has been described as cautious by analysts. Separately, Belgian holding company Gevaert will acquire a 15% share of the company with an option to buy a further 10% after a year. Trading in Agfa shares will begin on June 1 on the Frankfurt and Brussels stock exchanges.