TKE Owners In Talks With Banks Ahead of Possible IPO

Private equity groups Advent and Cinven are in talks with banks as they begin laying the groundwork for a public listing of TK Elevator (TKE), a move that could rank among Europe’s largest stock market debuts in recent years, MSN is among outlets to report. According to inside sources, the firms have been hearing proposals from investment banks vying to be independent advisers for the deal, and while Frankfurt is viewed as a leading option for the listing, owners have also evaluated the possibility of floating the company in the U.S. Appointing an adviser would mark the formal start of IPO preparations for TKE, and global coordinators are expected to be chosen later this year, with a target of bringing the company to market in 2026.