BERLIN (Reuters) – German vaccine maker CureVac plans to raise funds by selling stock in an initial public offering in the United States, Die Welt newspaper reported on Monday, citing finance ministry documents.

A spokesman for CureVac declined to comment on the report, which said the listing would take place on the Nasdaq.

The German government plans to take a stake of about 23% in unlisted CureVac by backing a 300 million euro ($337 million) capital increase to fund the biotech company’s further development of a COVID-19 vaccine.