PharmaSGP Is Said to Plan Germany’s Biggest IPO This Year

(Bloomberg) -- PharmaSGP GmbH, which develops chemical-free over-the-counter drugs, is planning an initial public offering that could value the company at as much as 500 million euros ($549 million), people familiar with the matter said.

In what is likely to be Germany’s biggest listing so far this year, the Munich-based company is preparing to issue an intention to float on the Frankfurt Stock Exchange as soon as Wednesday after a successful pre-marketing exercise, said the people, who asked not to be identified because the discussions are private.

Database management firm Exasol AG made its IPO debut Monday in Frankfurt, after raising 87.5 million euros and becoming Germany’s first listing of 2020. The last German listing to top that was TeamViewer AG’s 2 billion-euro offering in September, according to data compiled by Bloomberg.

PharmaSGP has benefited from the coronavirus crisis as demand for over-the-counter drugs has increased, one of the people said. It follows JDE Peet’s footsteps in launching an IPO on a European exchange amid the pandemic.

Berenberg is arranging the transaction, the people said.

A PharmaSGP spokesperson couldn’t be reached for comment outside of business hours in Germany. A representative for Berenberg declined to comment.

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