German TecDax to land its first IPO

Wacker Siltronic, the German silicon wafer manufacturer, is set to become the first flotation to join TecDax, Germany's new technology index. Deutsche Bank and Morgan Stanley will run the €500m ($619m) deal.

The Siltronic flotation, expected to take place in April, will be the first initial public offering (IPO) in Germany for 18 months.

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