FRANKFURT/BERLIN -- German brake systems maker Knorr-Bremse plans to list on the Frankfurt stock exchange this year, the company said.
The family owners are seeking to sell what Knorr said would be a meaningful minority stake in the supplier of brakes for trucks and trains, the supplier said.
No new shares will be offered to investors in the initial public offering, which is expected to be completed in the fourth quarter of this year, it said.
A listing usually takes place about four weeks after the intention to float is published.
People close to the matter have said that they expect Knorr-Bremse to be valued at about 12 billion euros ($13.9 billion), which would make its shares a candidate for inclusion in Germany's midcap MDAX index.
For majority-owner Heinz Hermann Thiele, 77, and his family the IPO is also part of succession planning as he pushes for professional investors to have a voice in the company's strategy.
Knorr-Bremse dropped a bid for smaller Swedish rival Haldex last September.