Swiss logistics group Panalpina said its IPO on the Zurich stock exchange is scheduled to takeplace on September 22 following a share offer period from September 8 to 21. The company’s owner,
the Ernst Göhner Foundation, plans to sell a 51 per cent majority stake in the freight company. Atotal of 12.75 million shares in a price range of CHF 76 – 88 are being offered to investors. If agreenshoe option is fully exercised, a total of 56 per cent in the company would be sold. Theflotation, which Swiss media described as the country’s largest IPO for four years, could raise upto CHF 1.2 billion.The IPO would value Panalpina at about CHF 1.9 – 2.2 billion, depending on the final share offerprice. The company has said in the past that the flotation will give it easier access to financialmarkets for its international expansion. Panalpina is one of the world’s leading air and oceanfreight forwarders, and is expanding its contract logistics activities.
