German Drugmaker Cheplapharm Seeks to Raise $855 Million in IPO

German drugmaker Cheplapharm Arzneimittel GmbH seeks to raise about 750 million euros ($855 million) in an initial public offering to reduce debt and finance future acquisitions.

The listing on the Frankfurt stock exchange should take place in the first quarter, the Greifswald-based company said Monday. Shareholder Braun Beteiligungs GmbH may also sell shares in the IPO.

Bloomberg reported last year that Cheplapharm was speaking with advisers about a potential listing. A share sale could value the business at about 7 billion euros to 8 billion euros or more, people familiar with the matter told Bloomberg at the time.

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