General Electric has filed paperwork for an IPO of its health-care unit, GE Healthcare, according to people familiar with the matter.
GE is working with JPMorgan Chase on an initial public offering that would likely come mid-2019, someone familiar with the plans told CNBC. Goldman Sachs , Bank of America , Citigroup and Morgan Stanley are also working with GE, according to Bloomberg News. The new public company would rank among the largest in the world.
GE’s stock jumped more than 8 percent on the news.
GE Healthcare, a dominant player in hospital and lab equipment, generated roughly $19 billion in revenue and $3.4 billion in profit last year. It accounted for 15.8 percent of the conglomerate’s total sales, and 43.2 percent of its operating profit in 2017.
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