Medtech group Medacta readies Swiss IPO next year - sources
05/11/2018 17:43
ZURICH/FRANKFURT, Nov 5 (Reuters) - Swiss medical technology
company Medacta is preparing to float on the SIX Swiss Exchange
in spring next year, three people familiar with the matter told
Reuters.
Credit Suisse CSGN.S and Morgan Stanley MS.N are leading
the deal with the help of JP Morgan JPM.N and UBS UBSG.S ,
the sources said.
The company was not immediately available for comment and
the banks all declined comment.
Family-owned Medacta generates annual sales of around 300
million Swiss francs, one of the people said. The company based
in the Italian-speaking canton of Ticino will likely float just
a minority stake at first.
Medacta, which employs 930 people, develops and manufactures
orthopaedic implants for knees and spines. Another Swiss implant
group, Basel-based Medartis MEDA.S , was valued at 563 million
Swiss francs when it went public in March.
Medacta's higher profitability should give it a
significantly higher market capitalisation, the sources said.
Swiss trainmaker Stadler is also in the starting blocks for
a Swiss listing next year. urn:newsml:reuters.com:*:nZ8N1VS00T
The Swiss market for flotations is likely to slow next year
after 10 new listings so far in 2018, of which six were initial
public offerings (IPOs).
"IPOs only work now for companies with crisis-proof business
models," one source said, noting investors had become much more
selective given market fluctuations.
(Reporting by Oliver Hirt and Arno Schuetze, Editing by Michael
Shields)
((Michael.Shields@thomsonreuters.com; +41 58 306 7461; Reuters
Messaging: michael.shields.thomsonreuters.com@reuters.net))