News - Landis+Gyr: Largest IPO on SIX Swiss Exchange since 2006
Landis+Gyr: Largest IPO on SIX Swiss Exchange since 2006
With Landis+Gyr IPO, SIX Swiss Exchange has also hosted two of the three biggest European IPOs this year.
Landis+Gyr (LAND), a global leader in transforming the way energy is delivered and managed, listed its shares on SIX Swiss Exchange today (IPO video). The shares have been sold by former shareholders Toshiba Corporation (60% of Landis+Gyr's share capital) and Innovation Network Corporation of Japan, INCJ (the remaining 40%).
Landis+Gyr Customer Operation Center
Richard Mora, CEO of Landis+Gyr, comments: "Landis+Gyr is an over 120-year-old icon and one of the smartest in the metering industry. This IPO is a major milestone in our growth story.
We look forward to welcoming our new public shareholders, as they join us on our path to help the world manage energy better."
Richard Mora, CEO Landis+Gyr and Andreas Umbach, Chairman of the Board Landis+Gyr
IPO attracts a great deal of interest
The opening price was CHF 79.00.
This corresponds to a total market capitalization of CHF 2.331 billion.
Shares in Landis+Gyr are being listed in accordance with the International Reporting Standard and being admitted to the SPI®. With a transaction size of CHF 2.3 billion, Landis+Gyr IPO is the biggest one on SIX Swiss Exchange in the last eleven years and the second biggest listing in Europe year to date.
With Galenica Santé earlier this year and Landis+Gyr, SIX Swiss Exchange have hosted two of the three biggest IPOs in Europe so far this year.
"Today we take pleasure in welcoming Landis+Gyr back to the Swiss stock exchange. We are proud that a company with such a track record and many years of experience will once again be traded on our exchange," commented Chris Landis, Division CEO Swiss Exchange.
"This is testimony to the attraction of the Swiss financial centre and to the advantages of an efficient access to the capital market."
Numerous benefits for equity issuers
A listing on SIX Swiss Exchange provides companies with access to strongly capitalized Swiss and international investors.
In addition, we make things as simple as possible for them with first-class, needs-oriented services, allowing issuers to efficiently raise capital and achieve sustainable growth.
Our appeal extends far beyond the borders of Switzerland.
An overview and helpful information on all topics relevant to going public on SIX Swiss Exchange can be found in the comprehensive Going Public Guide or in the compact "IPO Guide Schweiz" (available only in German). Further information on our range of services for issuers can be found on our website.
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