April 11, 2019 / 4:05 PM / in 12 days

Stadler Rail IPO issue price set at 38 Sfr per share - source

ZURICH, April 11 (Reuters) - Stadler Rail’s initial public offering issue price has been set at 38 Swiss francs per share, a source said, near the upper end of the company’s 33-44 franc range, as the Swiss trainmaker prepares to begin trading on the SIX Swiss Exchange on Friday.

The pricing gives Stadler an implied market capitalisation of around 3.8 billion Swiss francs ($3.79 billion) in the latest big flotation in Switzerland following the spinoff of Novartis’s Alcon eye-care unit on Tuesday. ($1 = 1.0029 Swiss francs) (Reporting by John Miller. Editing by Jane Merriman and Michael Shields)

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