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Stadler launches IPO; valued at CHF3.8 billion [free access]

April 12, 2019

Stadler Rail has launched an initial public offering (IPO) on the SIX Swiss Exchange. The company set the issue price at CHF38 per share, valuing the company at CHF3.8 billion. The IPO consists of secondary shares held by Mr Peter Spuhler, the executive chairman of the company. Mr Spuhler sold 35 million shares worth CHF1.33 billion at the offer price. In addition, another 5.3 million shares can be issued through an over-allotment option. If the option is exercised to the full, Mr Spuhler will retain around 39.7 per cent share in the company.


Before the IPO, the company was owned by Mr Peter Spuhler (80 per cent), Germany-based RAG Stiftung (10 per cent), and Stadler’s employees (10 per cent).


In 2018, Stadler generated net revenues of CHF2 billion. The earnings before interest and taxes (EBIT) margin was 7.5 per cent, and the order backlog was CHF13.18 billion.


(1 CHF [Swiss Franc] = 1.00 USD)