SAP May Launch IPO In ShanghaiNovember 28, 2012 | Print | Comments | Category: Business, Software
German software giant SAP is reportedly preparing a listing on the Shanghai Stock Exchange, aiming to gain financial support from the Chinese market.
So far, the company has been listed in the German and New York Stock Exchanges.
The Chinese government has planned to open a new international board in Shanghai Stock Exchange. The new board was initially expected to be launched at the second half of 2011; however, due to the European debt crisis, this plan was postponed.
SAP is currently one of the largest business software developers in the world and the Chinese market is one of the fastest growing markets for the company. According to its report for the third financial quarter of 2012, the company's software sales in the Chinese market increased by 40%; meanwhile, the Chinese market had become its sixth largest market worldwide.
SAP said after the release of the report that the sales growth in China and North America can offset the lackluster performance of the European market. In addition, SAP set a new medium-term goal for the Chinese market, aiming to achieve sales of EUR1 billion.
In November 2011, Hasso Plattner, co-founder of SAP, said during his first visit to China that before the end of 2015, SAP will invest over USD2 billion in China to develop its businesses in this marketplace. It is confirmed by an insider from SAP that SAP's investment in the Chinese market will mainly focus on key fields like innovation and delivery of solutions, which will be led by SAP's research institute in China.
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