June 20, 2018 / 5:02 AM / 5 months ago

Swiss gearmaker Klingelnberg prices IPO at 53 Sfr per share

ZURICH, June 20 (Reuters) - Swiss gearmaker Klingelnberg said on Wednesday it had priced its initial share offering (IPO) at 53 Swiss francs per share, the top of its range, as its family owners sell about half their stake and the firm raises about 20 million euros ($23.15 million) for expansion by selling new stock.

A bookrunner for the IPO previously said books were covered, including the greenshoe, amid strong interest among investors in stock of the 155-year-old Zurich-headquartered company with roots in Remscheid, Germany. ($1 = 0.8638 euros) (Reporting by)

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