Clean manufacturing group SKAN prices Swiss IPO at 54 francs per share (updated)

SKAN AG

27/10/2021 06:35

(Adds details of placewent)
    ZURICH, Oct 27 (Reuters) - Swiss clean manufacturing
technology company SKAN Group  SKAN.S  priced its initial public
offering at 54 Swiss francs per share on Wednesday, near the
upper end of the indicated range, ahead of its trading debut on
the SIX Swiss Exchange on Thursday.
    The offer price implies a market capitalisation of 1.21
billion Swiss francs ($1.32 billion). Gross proceeds amount to
93.5 million. 
    The free float amounts to approximately 48% prior to any
exercise of the over-allotment option, and to around 50% if the
over-allotment option is fully exercised, it said. urn:newsml:reuters.com:*:nL1N2RE0AA
    Credit Suisse and Berenberg acted as joint global
coordinators and joint bookrunners for the IPO. KPMG was the
independent financial adviser to SKAN Group.
    The group intends to use the proceeds to finance growth,  
in particular by expanding capacity and offering new products
and services.
    The IPO featured around 1.7 million new shares and nearly
2.8 million existing shares, which were mainly offered by 
majority owner Willy Michel and other shareholders.
    Michel has granted an over-allotment option of 500,000
existing shares, resulting in a total placement volume of up to
270 million francs.
    ($1 = 0.9164 Swiss francs)

 (Reporting by Michael Shields; Editing by Sam Holmes & Simon
Cameron-Moore)
 ((Michael.Shields@thomsonreuters.com; +41 41 528 3630; Reuters
Messaging: michael.shields.thomsonreuters.com@reuters.net))