Siemens sees market value of energy spin-off above $20 bln-source

Credit: REUTERS/BING GUAN

Siemens expects Siemens Energy to reach a market value of significantly more than 17 billion euros ($19.98 billion) when it floats on the Frankfurt stock exchange next week, a source close to the company said.

ZURICH/MUNICH, Sept 22 (Reuters) - Siemens SIEGn.DE expects Siemens Energy to reach a market value of significantly more than 17 billion euros ($19.98 billion) when it floats on the Frankfurt stock exchange next week, a source close to the company said.

The consensus forecasts for the value of the business, which makes gas and wind turbines, is 21 billion to 22 billion euros, said the source.

Siemens declined to comment.

($1 = 0.8511 euros)

(Reporting by John Revill and Alexander Huebner; Editing by Sabine Wollrab and Christoph Steitz)

((John.Revill@thomsonreuters.com; +41 58306 7022; Reuters Messaging: john.revill.thomsonreuters.com@reuters.net))

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