Switzerland's Stadler Rail will float on the SIX Swiss Exchange in the next...
Stadler on Tuesday said its initial public offering was the next stage in its growth strategy which is targeting annual sales of roughly 4 billion Swiss francs by 2020.
The IPO is expected to consist entirely of shares held by Spuhler. After the transaction he will keep at least a 40 percent stake as Stadler’s largest shareholder and will continue to act as executive chairman, the company said. It has not yet put a price on the shares to be sold.RAG-Stiftung, which finances the cleanup of mining areas in Germany’s Ruhr and Saar regions, and Stadler staff will keep their 10 percent stakes after the IPO, it added.
The company, which employs around 8,500 workers, has built more than 8,000 trains since it was founded in 1942. Customers include CalTrain in the United States, Wales & Borders in Britain, and Russia’s rail company Aeroexpress that bought trains ahead of the 2018 soccer World Cup to ferry visitors from airports to Moscow.
The IPO is the latest in Switzerland, which had a bumper year for flotations in 2018 including with companies such as packaging company SIG Combibloc and CEVA Logistics.
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