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Swiss components maker SFS seeks to raise 349 mln Sfr in IPO
April 23, 2014 / 5:40 AM / 4 years ago

Swiss components maker SFS seeks to raise 349 mln Sfr in IPO

ZURICH, April 23 (Reuters) - Swiss engineering components firm SFS IPO-SFSH.S said it seeks to raise as much as 349 million Swiss francs ($394.08 million) by issuing new shares when it lists on the Swiss bourse next month.

The firm, which makes components and fastenings for the automotive and construction industries, as well as miniature screws for smartphones and tablets, will offer more than 5 million new shares at between 57 and 69 francs.

In addition to that, the founding family will also sell 4.9 million existing shares in the listing, which together will bring the company’s free float to 26.7 percent.

The company’s first trading day is planned for May 7.

SFS plans to use the IPO proceeds for growth by expansion as well as acquisitions and general business.

Credit Suisse and UBS are joint global coordinators on the share issue, which begins book-building on Wednesday.

$1 = 0.8856 Swiss Francs Reporting By Katharina Bart; Editing by Maria Sheahan

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