Schott Pharma made its highly anticipated debut on the Frankfurt stock exchange, exceeding expectations of analysts and investors alike. The company’s shares started trading at an impressive 30 euros per share, resulting in a significant 10% increase within the first few minutes.
Prior to its IPO, Schott Pharma set the final offer price at 27 euros ($28.37) per share. This came after the company announced a price range of 24.50 to 28.50 euros on September 18. This successful debut values Schott Pharma at a staggering 4.1 billion euros, solidifying its position in the market.
Schott Pharma CEO, Andreas Reisse, stated that going public was a strategic decision to access the capital markets. He emphasized the importance of having equal resources compared to competitors, even though there are no immediate plans for additional fundraising or mergers.
With a total of 34,641,362 shares, including over-allotments, Schott Pharma aims to leverage its successful IPO and expand further. The company’s recent financial performance has been impressive, with an 8.4% year-on-year increase in sales for the first nine months of the 2023 fiscal year, amounting to 670 million euros ($704 million).
As a leading medical vial manufacturer, Schott Pharma supplies key clients such as BioNTech and Moderna with vials for mRNA vaccines, diabetes, and obesity drugs. The company operates across 33 countries and has made significant investments in Germany, despite challenges in the economy.
Reisse emphasized that while Germany may not be the easiest place to produce, investing in high-value, automated products can still be highly beneficial. Schott Pharma plans to retain a majority stake in the company following the completion of the IPO and intends to utilize the funds raised to drive further growth and support its green transition.
With only three new listings on the Frankfurt stock exchange this year, the Schott Pharma IPO is expected to be one of Germany’s largest in history, making it a significant milestone for the company and the market as a whole.
