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Siemens prices healthcare unit IPO at middle of range

Industrial conglomerate Siemens AG priced 15% of its healthcare unit at €28 per share, raising a total of €4.2 billion, ahead of its market launch March 16.

The price falls in the middle of the €26 to €31 range marketed by banks for X-ray and MRI machines maker Siemens Healthineers.

The offering values the business at €28 billion, making it Germany's second-biggest share sale in almost two decades, behind Innogy SE in 2016, according to Bloomberg.