Schott Pharma, the medical vial manufacturer, made its debut on the Frankfurt stock exchange with an IPO that exceeded analyst expectations. The company’s shares were priced at €27 ($28.37) per share, and they began trading at €30 per share, marking a 10% increase in the first minutes of trading. This strong performance gave Schott Pharma a valuation of up to €4.1 billion.
CEO Andreas Reisse explained that going public was a strategic decision, allowing the company to access the capital markets and compete effectively with its rivals. While there are no immediate plans for additional capital raising or mergers and acquisitions, Schott Pharma wanted to have the same financial resources as its competitors.
Schott Pharma has reported a year-on-year sales increase of 8.4% for the first nine months of the 2023 fiscal year, reaching €670 million ($704 million). The company specializes in producing vials for mRNA vaccines, diabetes, and obesity drugs and serves clients like BioNTech and Moderna. Schott Pharma operates in 33 countries and has made significant investments in Germany despite the challenges of producing high-value and highly automated products in the country.
After the IPO, the group will maintain a majority stake in the company and intends to use the proceeds to accelerate its growth and support its transition toward more sustainable practices. This IPO is only the third new listing on the Frankfurt stock exchange in the year and is expected to be one of Germany’s largest IPOs in history.