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Schott Pharma shares trade around 30 euros in debut, above listing price

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Schott Pharma debuted on the Frankfurt stock exchange on Thursday at 30 euros per share, trading well above analyst expectations. Shares of the company were up 10% in the first minutes.

The medical vial manufacturer set its final offer price at 27 euros ($28.37) per share Wednesday, after the company announced a range of between 24.50 and 28.50 euros on Sept. 18, giving it a valuation of up to 4.1 billion euros.

The company said it would list 34,641,362 shares in total, including over-allotments.

“We are beyond thrilled about today’s milestone. There is strong demand not only for our leading drug containment solutions and delivery systems but also from investors worldwide, proving the great prospects of our company,” Andreas Reisse, CEO of Schott Pharma, said after the offer price announcement of Wednesday.

Schott Pharma said sales were up 8.4% year-on-year for the first nine months of the 2023 fiscal year, hitting 670 million euros ($704 million) over the period.

The company produces vials for mRNA vaccines, diabetes and obesity drugs and counts BioNTech and Moderna among its clients. Schott Pharma has production and sales units across 33 countries.

The group said it will retain a majority stake in the company following the completion of the IPO and plans to use money raised through the listing to “further accelerate the Group’s growth and support its green transition.”

The Schott Pharma IPO is only the third new listing on the Frankfurt stock exchange this year and is expected to be the largest.

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