Banks hired by BionTech to prepare IPO on fasttrack

German's BionTech, Europe's largest unlisted biotech firm by staff numbers, has hired banks to prepare for an initial public offering (IPO) as early as this year, people familiar with the plan told Reuters. Bank of America and JP Morgan have been retained as global coordinators for the planned listing on the U.S. Nasdaq exchange some time in the fourth quarter or in early 2020, with a stock offering worth as much as $800 million, the sources said.

The transaction could value the firm at roughly $4 billion, though deal terms and timing could be subject to change, they added. Biontech, which has previously said it was eyeing a future public listing, did not immediately respond to a request for comment.

The two banks also would not comment.

(With inputs from agencies.)