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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.
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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.
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