TKE is reportedly considering listing on the U.S. stock exchange in 2026, with an IPO of more than $20 billion. This was reported by the Reuters International News Agency, reporting what was revealed by sources close to TK Elevator.

“The owners of TK Elevator,” reads the Reuters agency release, “are considering the United States as a location for a potential initial public offering next year, despite market turmoil triggered by U.S. tariffs slowing the pace of negotiations, three people aware of the matter told Reuters.”

According to the sources quoted by Reuters, who remained anonymous, “deliberations would be at an early stage and preparations should be formalized in late 2025, with the aim of conducting a sale or listing of the company in 2026.” The news agency also reports that sources would say that “the transaction is likely to be worth more than 20 billion euros ($22.7 billion), adding that there is no certainty of the deal and that the timing could still change depending on market developments.”

The U.S. accounts for about 35 percent of TK Elevator’s total sales, which stood at 9.3 billion euros in fiscal year 2023/2024, according to the company. In addition, according to one of the people heard by Reuters, one of the reasons why the United States is being considered as the location for the IPO is that it is also the home of industry leader Otis, which has the highest multiple among listed competitors.

The news of TKE’s potential IPO follows the entry of Saudi technology company Alat as a direct shareholder with a 15 percent stake in the company in February, as well as the launch of a €160 million ($181.6 million) European joint venture in Saudi Arabia.