Jenoptik (Germany) modifies flotation plan
This article was originally published in Clinica
Plans to float Jenoptik (Germany) on the stock exchange in 1998 are to continue but will start with profitable subsidiaries rather than the holding company (see Clinica No 669/70, p 14). Jenoptik's chairman, Lothar Spath, says that floating the entire company together with its 40 subsidiaries would not be an attractive proposal for the stock exchange, reports Handelsblatt. In 1995 Jenoptik expects a turnover of DM 1,000 million ($700 million) and a balanced profit and loss account. Jenoptik Laser, Optik, Systeme is one of the poorly performing subsidiaries that is unlikely to be included in the flotation.