- 28 June 2021
- Transport / Logistics Services
German logistics giant Trans-o-Flex is to list on the Frankfurt stock exchange, according to news agency Reuters.
The IPO could value Trans-o-Flex at as much as €1 billion, with stock worth €300 million being sold.
Trans-o-Flex has benefitted from the surge in online shopping during the pandemic, with revenues growing 4% in the financial year. It specialises in transport for the pharmaceutical, consumer electronics and cosmetics industries.
“In order to finance our further growth, we are continuously evaluating possible financing options, including an IPO,” a company spokesperson said.
The logistics giant, founded in 1995 and owned by a number of other companies since, and was subject to a takeover bid by Deutsche Post in 1999 that was blocked by competition authorities. It is working with investment bank JP Morgan on the IPO. This is set to happen as early as September this year.