SWX Swiss Exchange: Winterthur Technology Ltd Opens At CHF 33.50

Shares in Swiss grinding machinery manufacturer Winterthur Technology Ltd were traded in the main segment of the SWX Swiss Exchange for the first time today. The issue price was set yesterday (Thursday) at CHF 33. The opening price on the SWX was CHF 33.50, which corresponds to a market capitalization of CHF 123 million. Winterthur Technology is included in the SPI EXTRA® as well as the SPI®.

According to the listing prospectus, 80 % of the 3’630’170 registered shares recorded in the commercial register are in free float. If the greenshoe option involving a further 440’000 shares is exercised, the free float may rise to 86 %. 1’050’000 of the placed shares proceed from a capital increase connected with the IPO.

Winterthur Technology Group is a European provider of complex abrasive solutions, headquartered in Zug and has operations in Switzerland, Austria and Sweden. The company develops and produces complex high-margin, high-tech abrasive consumables, primarily grinding tools used in the automotive, gas turbine and steel industries.

The Winterthur Technology Group currently has a staff of around 590. It recorded a net profit of EUR 3.4 million in 2004