MUNICH -- German brake systems maker Knorr-Bremse is in no rush to decide on a possible stock market flotation, CEO Klaus Deller said, ruling out a summer listing.
A decision on whether to list has not yet been taken, Deller said, and it will depend on developments on the stock markets.
"Maybe (the decision) will be made this year, maybe not," he said, adding it was a decision for the owners. "We're not talking about summer."
"We'll let the bigger ones through first," he added, referring to Siemens unit Healthineers, which made its stock market debut last week.
Reuters reported in December that Knorr-Bremse had hired banks to help prepare for a potential stock market listing in 2018 after company owner Heinz Hermann Thiele said in September the company was weighing various options, including an IPO.
Deller said an IPO would not be done as a cash call but as a way for the family owners to float part of their stake.