The Thurgau-based rail vehicle construction company Stadler Rail made a successful start on the SIX stock exchange in Switzerland on Friday. After opening, Stadler shares are trading at just over 42 francs. The market value therefore currently stands at 4.2 billion francs, as explained in a press release from SIX.
All 35 million shares that have now been placed as part of the basic offering were previously directly or indirectly controlled by President Peter Spuhler. The banks in charge were afforded a greenshoe option of approximately 5 million shares. Up to now, Spuhler held a share of 80 percent in Stadler Rail. Following the IPO, his stake will fall to 39.7 percent, provided that the greenshoe option is exercised. Spuhler will remain anchor shareholder and President of the Supervisory Board following the IPO.
“The IPO and subsequent listing on the SIX stock exchange is a logical next step in the growth story of Stadler”, Spuhler commented in the press release. “It will help us to further strengthen the long-term competitive position of Stadler in our markets on the back of innovative products and technologies, in addition to supporting the future development of the company”.
According to the SIX stock exchange, Stadler’s IPO is the largest in Europe so far this year. Jos Dijsselhof, CEO of SIX, commented: “We are convinced that this listing will allow Stadler to write additional, successful chapters in its future company history”.