Morgan Stanley is hoping investors can be persuaded that BrainLAB, the medical technology company it is listing on the Neuer Markt, will not suffer as much from the global slowdown as more mainstream technology offerings.
The bank is leading the €75m ($64m) initial public offering of BrainLAB, which provides software for radiosurgery and image-guided surgery. Launching a pure technology IPO on the German high-growth exchange in the current climate may seem a brave move, but a banker close to the deal said that BrainLAB can differentiate itself as it sells its products to hospitals. He explained: "It's a very different spending cycle from other IT and software companies."
