FRANKFURT (Bloomberg) -- The family-owned lighting and electronics specialist, Hella, is considering making an initial public offering of its shares, according to people with knowledge of the matter.
Hella is working with Citigroup and a specialist German private bank, Bankhaus Lampe, on a possible stock exchange listing in Frankfurt in what could be the largest IPO in Germany this year, the sources said. However, they added that no final decision on the matter has yet been made.
Hella had adjusted earnings before interest and tax of 390 million euros in the financial year to end May last on sales of 5.3 billion euros.
The possible IPO comes amid a pick-up in deal activity among automotive suppliers. This includes German driveline specialist ZF Friedrichshafen's exploration of a possible $12 billion takeover of US-based TRW Automotive Holdings Corp. to create the world's no. 2 car-parts maker.