April 9, 2019 / 1:34 PM / 15 days ago

Stadler IPO priced towards top end of range - source

ZURICH, April 9 (Reuters) - The price range for the flotation of Swiss company Stadler Rail has narrowed to 36 to 39 Swiss francs ($36.03 to $39.03) per share, towards the top end of the indicated price range, according to a person familiar with the matter.

The Swiss train and carriage maker had an original price range of 33 to 41 francs per share in the IPO, which is due to take place on April 12.

The pricing gives Stadler an implied market capitalisation of 3.6-3.9 billion Swiss francs and is the latest large flotation in Switzerland following the spinoff of Novartis’s Alcon eye-care unit on Tuesday in which the company’s market capitalisation hit 28 billion Swiss francs.

$1 = 0.9993 Swiss francs Reporting by John Revill; Editing by Michael Shields

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