Siemens AG confirmed that it would list 15% of its healthcare unit through an initial public offering on March 16, Bloomberg News reported, citing a company statement.
The IPO could value Siemens' Healthineers, in a range of €26 billion and €31 billion, according to Bloomberg.
The healthcare unit's shares will be priced at €26 to €31 each. The offering is expected to generate proceeds of €3.9 billion to €4.65 billion.
Healthineers' value slipped following initial investor feedback, Bloomberg said, citing people familiar with the matter. Reuters last year reported the unit could be valued at €40 billion.
The offering is part of CEO Joe Kaeser's effort to overhaul the company. Last year, the company completed a merger of its wind business with Spanish rival Gamesa Corporación Tecnológica SA.
Sources told Bloomberg that Kaeser also plans to combine the company's train unit with Alstom SA and sell the Flender GmbH mechanical drives business.
