Today, the shares of Meyer Burger Technology Ltd, the Swiss manufacturer of precision saws, were traded in the SWX Local Caps segment of the SWX Swiss Exchange for the first time. Yesterday, i.e. on Wednesday, an issue price of CHF 39 was determined, which is the upper end of the previously specified price range of CHF 33 to CHF 39. The opening price on the SWX was CHF 44.50. This corresponds to a market capitalisation of CHF 131.7 million (incl. greenshoe). Meyer Burger Technology Ltd belongs not only to the SPI®, but also to the SPI EXTRA®.
According to the listing prospectus, of the 2,960,000 registered shares entered in the Commercial Register, 1,800,000 or 60.8 % of all shares were placed with the public. If the option for an additional 270,000 shares is chosen (greenshoe), the free float may rise to 69.9 %.
Meyer Burger Technology Ltd specialises in the separation of hard and brittle materials and is therefore a leading provider in the area of wire, band and disc saws for the separation of silicon blocks and ingots into wafers and other forms. The machines, expertise and technologies are mainly used in the photovoltaics, semiconductor and optical sectors and marketed through a global network.
In June 2006, Meyer Burger had 228.3 full-time equivalents (FTEs). According to the half-year report of 30 June 2006 (unaudited), the company generated a turnover of CHF 39.3 million and a net profit of CHF 4.7 million.
