April 4, 2019 / 5:20 AM / 3 months ago

Swiss medical device maker Medacta valued at $1.9 billion in IPO

ZURICH, April 4 (Reuters) - Medacta Group SA announced an issue price of 96 Swiss francs per share in its flotation on Thursday, giving the Swiss medical device maker a market capitalisation of 1.92 billion Swiss francs ($1.92 billion).

The price implied an offer size of 547 million francs in the base offering. The founding Siccardi family offered 5.7 million existing shares in the secondary offering and will retain control of the company which develops and manufactures orthopedic implants for knees and spines.

Medacta’s shares are due to start trading on the SIX Swiss Exchange on Thursday. ($1 = 0.9977 Swiss francs) (Reporting by John Revill Editing by Michelle Martin)

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