June 11, 2018 / 5:25 AM / in 4 months

Klingelnberg says to price IPO at 45 Swiss francs to 54 Swiss francs per share

ZURICH (Reuters) - Swiss machinery maker Klingelnberg said on Monday it is setting a price range of 45 to 54 Swiss francs for its initial public offering, putting the offer volume at 230 million Swiss francs ($233.46 million) to 270 million francs including the greenshoe.

Most of the proceeds will go to the family that is the sole owner of the company and which will retain about 50 percent of the shares.

About 20 million euros ($23.60 million) from the sale of new shares will be directed to help boost growth, Klingelnberg said last month.

The shares are due to begin trading on June 20.

Reporting by John Miller, editing by John Revill

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