Shareholders sold 17.1 million shares at 48 francs each, at the top end of an initial range, the Zurich-based expansion services group said in an e-mailed statement. The shares rose as much as 7.4 percent in their trading debut today.
DKSH is among European companies seeking to sell IPOs as the region’s stock markets rebound. The benchmark Stoxx Europe 600 Index gained about 27 percent since its two-year low in September. Ziggo NV (ZIGGO), the Dutch cable company owned by Warburg Pincus LLC and Cinven Ltd., is set to complete an IPO which could raise 804 million euros ($1.06 billion). Ziggo is scheduled to start trading tomorrow.
DKSH offers sourcing, marketing, distribution and after- sales services with a focus on southeast Asia, China and Japan. The company, formed in 2002 through the merger of Diethelm Keller Services Asia Ltd. and SiberHegner Holding Ltd., operates in 35 countries. DKSH has helped companies including Nestle SA (NESN), Levi Strauss & Co., and drugmaker Sanofi grow in Asia.
The stock traded 6.5 percent higher at 51.05 francs at 9:16 a.m. in Zurich.
Bridge to Asia
DKSH says it has been a bridge between Europe and Asia since the 19th century, when three Swiss entrepreneurs sailed to Japan seeking business opportunities. While its model could be expanded to Africa and Latin America, DKSH will keep its focus on Asia, Chief Executive Officer Joerg Wolle has said. About 80 percent of DKSH’s sales come from big companies like Roche Holding AG, while the remainder comes from smaller clients.
Profit from continuing operations rose 26 percent to 152 million francs last year as revenue gained 0.6 percent to 7.3 billion francs. DKSH runs 180 distribution centers, has a fleet of 2,375 trucks and bought Swiss watchmaker Maurice Lacroix last year to tap Asian luxury demand.
UBS AG (UBSN) and Deutsche Bank AG are joint global coordinators of the IPO, while Berenberg Bank Schweiz AG and Credit Suisse Group AG are joint bookrunners. Credit Agricole Corporate and Zuercher Kantonalbank are co-lead managers.
The transaction is the biggest IPO by a Swiss company since Glencore International Plc (GLEN)’s share sale last May. It’s the largest in Europe since Spain’s Bankia SA raised $4.4 billion in July.
The banks can add 1.7 million shares to the sale in a so- called greenshoe option that can be exercised through April 18.
For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
Related Post:
ipo market. stock
- Silver Spring Networks ipo shares prices opened at $22
- Pfizer animal health Zoetis Ipo shares prices
- healthcare realty trust ipo common stock prices
- GlobeImmune ipo stock price
- Astro Malaysia Holding ipo stock price range
- Trulia ipo stock price range and symbol
- Japan Airlines IPO Stock release date september 19 2012
- Japan Airlines IPO stock prices range
- Debut Far East Hospitality Trust 8/27/2012
- Far east hospitality trust ipo stock prices
- Hi-Crush Partner ipo stock prices range
- Manchester United IPO stock predictions
- Bloomin' Brands ipo stock price range
- manchester united ipo prospectus
- Globus Medical IPO Stock price range per share
- Manchester United IPO stock Prices
- five below inc ipo shares prices and stock symbol
- Kayak ipo shares price and stock symbol
- Palo Alto Networks ipo stock symbol and shares prices
- Fender ipo stock symbol and shares prices
- Formula One IPO prospectus Singapore next week
- Speciality Restaurants IPO shares prices, prospectus
- Lantronix IPO file prospectus, shares prices
- LINC Logistics IPO shares prices, stock symbol
- Edgen IPO shares prices, stock symbol
No comments:
Post a Comment