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Medartis raises CHF142.6M in IPO


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Medartis raises CHF142.6M in IPO

Medartis Holding AG completed its previously announced IPO, raising CHF142.6 million in gross proceeds.

The Swiss healthcare equipment manufacturer issued 2,994,791 new shares priced CHF48 apiece, including 390,625 stocks that were sold as part of the offering's overallotment option granted to underwriters.

Zürcher Kantonalbank and Bryan Garnier & Co. were acting as underwriters, joint global coordinators and joint book runners for the planned IPO, with Kepler Cheuvreux serving as underwriter and co-manager.

Quarton International acted as financial adviser to the company.

Medartis founder and Chairman Thomas Straumann remains the largest shareholder of the company with a stake of 47.9%.

Vice Chairman Dominik Ellenrieder owns a 7.9% stake, while Medartis co-founder and CEO Willi Miesch owns 6%.

The free float amounts to 24.6%, not comprising the shares that are subject to a 12-month lock-up.