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Landis+Gyr prices IPO at 78 Sfr/share, overall market value 2.3 bln Sfr
July 21, 2017 / 5:24 AM / a month ago

Landis+Gyr prices IPO at 78 Sfr/share, overall market value 2.3 bln Sfr

ZURICH, July 21 (Reuters) - Swiss smart meter maker Landis+Gyr said on Friday it had priced its initial public offering (IPO) at 78 Swiss francs per share, giving it a market capitalization of 2.3 billion Swiss francs ($2.4 billion).

This priced the stock sale towards the upper end of its 70-82 franc target range and made it the biggest Swiss IPO since Petroplus in 2006.

Trading of the new shares on the Swiss stock exchange will begin on Friday.

$1 = 0.9510 Swiss francs Reporting by Joshua Franklin, editing by John Revill

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