Mexican Media Brands
Bosch Rules Out Stock Offering
Robert Bosch GmbH has ruled out a suggestion by bankers that the privately held company consider a stock market flotation.
#economics
Share
Robert Bosch GmbH has ruled out a suggestion by bankers that the privately held company consider a stock market flotation.
Sources tell Reuters the idea was presented as part of a broader funding review of the financial challenges ahead as Bosch shifts from a heavy reliance on components for piston engines to an era of electrified vehicles.
But Bosch tells the news service there are no plans for an initial public offering. The company is controlled by the Bosch Foundation, which owns 92% of the company. The Bosch family holds the remaining 8% equity.
Bosch is the world’s largest auto supplier. The company has predicted that worldwide car production will be flat in 2019 but forecasts its growth will outpace the industry.
RELATED CONTENT
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.
-
Enterprise Edges into Self-Driving Car Market
U.S. rental car giant Enterprise Holdings Inc. is the latest company to venture into the world of self-driving vehicles.
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.