Alpine lure

23 April 2019 By Lisa Jucca Follow @LJucca

Train maker Stadler and medical devices group Medacta raised a combined $1.9 bln in Zurich listings this month, defying a European market becalmed by Brexit and trade woes. Relative stock market strength is fuelling the rush. As valuations flatten, other venues will catch up.

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Selecta is planning to list on the Swiss stock exchange within months in an initial public offering that could value Europe’s leading vending machine operator at $3 billion, Reuters reported on April 12 citing people close to the matter.

Shares in medical devices group Medacta started trading on April 4. The company raised 547 million Swiss francs in an IPO which valued it at 1.9 billion Swiss francs ($1.9 billion). Train maker Stadler Rail made its stock market debut on April 12. Chairman Peter Spuhler sold shares worth more than 1 billion Swiss francs in an offering which valued the train maker at 3.8 billion Swiss francs.

Zurich’s SMI index is up 10 percent over the last 12 months, while the benchmark STOXX Europe 600 index was up 3 percent over the same period.

Some 32 companies listed in Europe in the first quarter of 2019, the lowest figure since 2009, PwC said in its quarterly IPO report.

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