Exyte plans IPO in Frankfurt

摘要

Exyte Technolgy, the German engineering, design and cleanroom build and maintenance specialist, said it will publicly list on the Frankfurt Stock Exchange next quarter. The company, formerly operating as M+W Group, is owned by Austrian entrepreneur Georg Stumpf. He acquired the group in 2009. The stock, worth up to €1 billion (US$1.2 billion) is expected to be offered in a deal that could value Exyte between €2.5bn to €3bn, Reuters said. Exyte delivers engineering solutions for climate controlled environments to data centres for cloud computing as well as companies in life science, food and chemical industries. Wolfgang Buechele, Exyte CEO, said: "The rise of big data, Internet of Things, autonomous driving and social media needs an increasing amount of hardware to handle digital information. Chip makers are expecting record CAPEX spending in 2019, which is driving our growth." In 2017, Exyte recorded sales of €2.4bn with adjusted earnings of €108m. Exyte has said it anticipates revenues in 2018 to rocket 45% to €3.5bn. Reuters reported that the company's forecast is leveraged by a new contract signed in Singapore.