DKSH makes strong debut Swiss stock exchange

DKSH makes strong debut on Swiss stock exchange

6:14 AM, 29th March 2012
DKSH makes strong debut on Swiss stock exchange
Dr Joerg Wolle, President & CEO, DKSH.

ZURICH, SWITZERLAND: DKSH, a Swiss trade and services company, made a strong debut on the Swiss stock exchange, with its shares opening higher after they were priced at the top end of their offered range in one of Europe’s first sizable initial public offerings (IPO) in months.

DKSH’s IPO price was set at Swiss Francs 48, which gave it a market capitalization of about Swiss Francs 3.05 billion ($3.35 billion). The company raised Swiss Francs 820.8 million by placing 17.1 million shares, with the public and selected private and institutional investors. On Friday, DKSH narrowed the price range to Swiss Francs 46 to 48 and brought the launch date forward by a day.

“The interest and demand of institutional and private investors were exceptionally high. At the price of Swiss Francs 48 per share, the offer was multiple times oversubscribed,” said Dr Joerg Wolle, President & CEO, DKSH. The debut of DKSH at the Swiss stock exchange could help reinstate the enthusiasm for public listings in Europe, which came to almost negligible in 2011 during the debt crisis.

© WOC News

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