Bosch bankers pitched IPO in funding review, no listing planned


By Arno Schuetze and Ilona Wissenbach

FRANKFURT, Dec 7 (Reuters) - Robert Bosch, the world's largest car parts maker, discussed the merits of a potential stock market floatation with investment bankers as part of a broader funding review, but has chosen to remain unlisted, people close to the matter said.

Bosch managers invited several bankers to discuss capital market funding needs as the automotive supplier overhauls its business to keep pace with the car industry's shift away from combustion engines toward an electric and autonomous future.

As part of these deliberations, the flotation of the group or individual business units was pitched by the bankers, these people said.

"There are no (IPO) plans", a Bosch spokesman said.

Bosch is controlled by the Bosch foundation, which owns 92 percent of Bosch's capital, with the Bosch family holding the rest.

While a number of German car parts makers have listed in recent years - including brakes supplier Knorr Bremse, bearings maker Schaeffler and lighting group Hella - Bosch has so far resisted any calls to access the equity market as a source of funding.

This article appears in: Stocks , World Markets , Economy , Banking and Loans , IPOs

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