Stada Arzneimittel AG, the German pharmaceutical company owned by private equity firms Bain Capital and Cinven, has pushed back its planned initial public offering (IPO) until September, according to a report by Bloomberg.
The report cites unnamed sources sources familiar with the matter as highlighting that ongoing market volatility prompted Bain and Cinven to revise their timeline for the listing.
Originally, the company had aimed to launch the offering as soon as this week, but the uncertainty in the financial markets led to a postponement. The move is seen as an effort to time the listing with more favourable market conditions.
Stada, which is targeting a valuation of approximately €10bn ($10.9bn) for the IPO, had aimed to raise €1.5bn in fresh capital. This would be in addition to any potential selldown by its private equity backers.
Stada’s offering was anticipated to be one of the first large-scale IPOs in Europe this year, alongside other potential listings, such as Oldenburgische Landesbank AG, a regional German lender backed by Apollo Global Management.
While discussions regarding the IPO are ongoing, details of Stada’s listing remain subject to change, and the company has not provided further comment. Representatives for Bain Capital, Cinven, and Stada declined to comment on the matter.
Stada specialises in generic drugs, consumer health products, and specialty medications for rare and chronic diseases. Its notable brands include Grippostad, a treatment for colds and flu, and Hirudoid cream for bruises and haematomas.
The Stada IPO is being coordinated by leading global banks, including JPMorgan Chase, Morgan Stanley, Deutsche Bank, and Goldman Sachs Group, as global coordinators.
