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Biontech stock offering could be worth as much as $800 million: sources


The headquarters of biopharmaceutical company BioNTech are seen in Mainz, Germany July 31, 2018. REUTERS/Ralph Orlowski

FRANKFURT (Reuters) – German’s BionTech, Europe’s largest unlisted biotech firm by staff numbers, has hired banks to prepare for an initial public offering (IPO) as early as this year, people familiar with the plan told Reuters.

Bank of America and JP Morgan have been retained as global coordinators for the planned listing on the U.S. Nasdaq exchange some time in the fourth quarter or in early 2020, with a stock offering worth as much as $800 million, the sources said.

The transaction could value the firm at roughly $4 billion, though deal terms and timing could be subject to change, they added.

Biontech, which has previously said it was eyeing a future public listing, did not immediately respond to a request for comment.

The two banks also would not comment.

Reporting by Arno Schuetze and Ludwig Burger; Editing by Caroline Copley

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