Disetronic shares soar nearly 70% after flotation:
This article was originally published in Clinica
The newly-floated shares of Swiss company Disetronic rose nearly 70% in the first days of trading on the Zurich stock exchange. The manufacturer of portable drug delivery systems priced its initial public offering at SwFr 1,350 ($1,090) a share and on June 20th, the third day of trading, the shares stood at SwFr 2,250. This values the company, based in Burgdorf, at around SwFr 500 million. The flotation raised SwFr 72 million for Disetronic from the sale of 50,000 newly issued shares. The remaining 22,000 shares were sold by existing stockholders. With a voting stake of 63%, CEO Willy Michel remains in control of the company. After the flotation, shares representing 14% of the vote and 29% of the capital are publicly owned.