SWX: Nebag (NBEN) Opens At CHF 14.25

Shares in Swiss-based Nebag were traded in the SWX Swiss Exchange's investment company segment for the first time today. The issue price was set yesterday (Thursday) at CHF 14.00. The opening price on the SWX stood at CHF 14.25, corresponding to a market capitalisation of CHF 80.9 million.

According to the listing prospectus, of the 5,679,375 bearer shares entered in the Swiss Commercial Register, 3,335,207 or 58.72 % of all outstanding shares have been placed with the public. 1,135,875 of the placed shares originate from an IPO-related capital increase.

The company plans to invest in second-line stocks by acquiring equity securities and debt capital subject to specific criteria, in particular profitability, intrinsic value and long-term investment security.

In 2004, the company reported a net profit of CHF 1.72 million on revenues of CHF 2.04 million.