Reuters logo
UPDATE 1-Building technology group Poenina plans Swiss listing
October 20, 2017 / 7:22 AM / 2 months ago

UPDATE 1-Building technology group Poenina plans Swiss listing

(Adds details of placement)

ZURICH, Oct 20 (Reuters) - Swiss building technology company Poenina plans to float new and existing shares on the Swiss stock exchange, it said on Friday, the fifth new listing in Switzerland this year.

Funds from the listing, for which Zuercher Kantonalbank is acting as the sole lead manager, will be used for acquisitions, Opfikon-based Poenina said in a statement.

Poenina posted operating revenue of 114.4 million Swiss francs ($116.6 million) in 2016 and 7.8 million in earnings before interest and taxes (EBIT).

Poenina intends to sell up to 850,000 shares to investors, ZKB said. That includes 500,000 shares from a capital increase and 240,000 from company founder and main investor Jean-Claude Bregy.

Bregy, who has a 78.5 percent stake, will also make available a greenshoe overallotment tranche of 110,000 shares. The company has 2 million shares at present.

The placement will boost the company’s free float to above 50 percent. ZKB gave no details on the timing or how much money it expects to raise.

The company is involved in areas such as plumbing, heating, roofing and ventilation. ($1 = 0.9813 Swiss francs) (Reporting by Joshua Franklin and Rupert Pretterklieber; Editing by Michael Shields/Keith Weir)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below