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Today, the shares of Landis+Gyr Group AG (“L+G”) were traded for the first time under the “International Reporting Standard” of SIX Swiss Exchange, opening at CHF 79.00. This corresponds to a total market capitalization of around CHF 2.331 billion.
The issued share capital of L+G comprises of 29,510,000 registered shares with a nominal value of CHF 10.00 per share. The selling shareholders offered 29,428,055 of the registered shares in the offering, which represents 99.7% of the issued share capital. No over-allotment option has been granted in connection with the offering. At the opening price of CHF 79.00, the placement volume corresponds to an amount of around CHF 2.325 billion.
L+G is a leading global provider of integrated energy management solutions for the utility sector. Offering a broad portfolio of products and services to address complex industry challenges, the company delivers comprehensive solutions for the foundation of a smarter grid, including smart metering, distribution network sensing and automation tools, load control, analytics and energy storage solutions. L+G operates in over 30 countries across five continents.
