VAT Group AG launches IPO on SIX Swiss Exchange

On March 31, 2016, VAT Group, the leading global manufacturer of high-end vacuum valves and related products and services headquartered in Haag (Switzerland), announced the launch of its initial public offering (IPO) on SIX Swiss Exchange with the publication of the Offering Memorandum and the start of the book-building process. The IPO aims at broadening the shareholder base of VAT through the sale of 12,000,000 existing shares plus an over-allotment option of up to 1,800,000 existing shares. The price range for the offered shares was set at CHF 39 to CHF 46 per share. On 13 April 2016, the final offer price was fixed at CHF 45 per share, resulting in an offer size of CHF 540 million (respectively CHF 621 million assuming full exercise of the over-allotment option) and an implied market capitalization of CHF 1,350 million, which makes this the largest IPO in Europe of the year to date. The shares of VAT started trading on SIX Swiss Exchange on April 14, 2016 with an opening price of CHF 52.