Today, V-ZUG Holding AG (Ticker "VZUG") listed its shares on the Swiss stock exchange. The opening price was CHF 72.00 per share, resulting in a market capitalization of CHF 463 million.
The newly established V-ZUG Holding AG was spun off from Metall Zug AG, which has a company history of more than 100 years. Its 6,428,571 registered shares were traded at SIX for the first time today. The spin-off was carried out as a dividend-in-kind. Existing shareholders of Metall Zug AG were allocated one registered share of V-ZUG Holding AG per type A registered share of Metall Zug AG and ten registered shares of V-ZUG Holding AG per type B registered share of Metall Zug AG.
Heinz M. Buhofer, CEO V-ZUG, says: "We are convinced that the V-ZUG Group as an independently listed company can take advantage of the additional strategic flexibility and create real added value for our shareholders, our customers, our employees and other stakeholders.”
Jos Dijsselhof, CEO SIX, says: “I am delighted to welcome V-ZUG, a Swiss company with a long lasting history. As the clear market leader in the household appliance sector in Switzerland, the company is well known and enjoys an excellent reputation. Today’s company listing marks the second on our exchange this year.”
