Castel San Pietro TI – On Thursday, orthopedics company Medacta successfully carried out an initial public offering. Based on the opening price of 104 Swiss francs per share, the total market capitalization was 2.08 billion francs.
On 4 April, shares in Medacta were traded on the SIX Swiss stock exchange for the first time. With an opening price of 104 francs, the shares started trading significantly above the issue price of 96 francs. As a result, the Ticino-based orthopedics company generated total market capitalization of 2.08 billion francs, it was reported in a press release.
The proportion of shares in free float on the stock market amounts to 28.5 percent. However, participating banks can exercise an over-allotment option within 30 calendar days after the first day of trading. This would increase the traded shares to 32.8 percent. Founder Alberto Siccardi and his family remain the majority shareholder after the initial public offering.
“We are delighted with the successful pricing of our IPO and the strong investor interest in Medacta from both Swiss and international investors,” commented Francesco Siccardi, CEO of Medacta.
Medacta is headquartered in Castel San Pietro. The company develops and manufactures orthopedic implants and instruments to help with problems related to hips, knees, shoulders and the spine. In financial year 2018, Medacta generated sales of €273 million. The Group places great emphasis on research and development: it has a total of 268 existing patents. The flotation is intended to further raise the profile of Medacta and facilitate access to international talent.