The Innovation Network Corporation of Japan and the Toshiba Corporation have sold their shares in Landis+Gyr Group Ltd by way of an IPO on the SIX Swiss Exchange. The shares of Landis+Gyr (ticker symbol: LAND) were priced at CHF78 corresponding to a market capitalisation of CHF2.3bn.
UBS AG and Morgan Stanley acted as joint global coordinators, Credit Suisse and J.P. Morgan as further joint bookrunners. Mizuho International and Bank Vontobel acted as co-bookrunners.
Bär & Karrer advised the banking syndicate in this transaction. The team included Thomas U. Reutter, Daniel Raun, Annette Weber and Adam El-Hakim (all Capital Markets) as well as Susanne Schreiber and Andrea Steffen (Tax).