DEUTSCHE POST SETS NOVEMBER IPO
Deutsche Post AG, the German post office turned international logistics giant, has set an initial public offering for Nov. 6 and will list 25 percent to 33 percent of its shares on several stock markets in Europe.
Deutsche Post plans to list shares in Germany, Britain, Italy, Spain, the Netherlands, Austria and Switzerland, according to German news sources. The German post said it has not finalized any plans.
Since launching a $3-billion global acquisition spree that included the purchase of large forwarders Danzas and Air Express International and many European parcel delivery firms, Deutsche Post has become one of the world’s largest transportation companies. Analysts anticipate the $29-billion company’s IPO to be one of Europe’s largest ever.
Deutsche Post continues to say that multiple investigations into its business practices currently underway at the European Commission will not affect its offering. However, potential fines could weigh on the minds of investors.