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LONDON (Reuters) - Swiss components maker SFS IPO-SFSH.S is targeting a stock market value of up to 2.44 billion Swiss francs ($2.8 billion) in its planned listing, on the basis of a narrowed price range for the issue disclosed by two sources familiar with the matter.
SFS, which makes screws for smartphones and tablet computers among other components, is seeking between 64 and 65 francs a share in its initial public offering (IPO), the sources said on Tuesday, compared with a 57 to 69 francs range reported last month.
The company aims to sell approximately 10 million new and existing shares via the SIX Swiss exchange, raising between 640 and 650 million francs. There is a further over-allotment option of around 1 million shares.
SFS, which had core earnings (EBITDA) of 269.8 million francs in 2013, is following on the heels of flotations by online travel firm Bravofly Rumbo Group BRGF.S and lender Thurgauer Kantonalbank (TKBP.S), which both opted for Swiss listings last month.
The share sale represents 26.7 percent of SFS's issued share capital, valuing the company at up to 2.44 billion francs, according to Reuters calculations.
The sale is being led by UBS UBSN.VX and Credit Suisse CSGN.VX, with Morgan Stanley (MS.N) as joint bookrunner.
Reporting by Freya Berry; Editing by Kirstin Ridley and David Holmes