ZURICH Dec 15 There will be at least three
initial public offerings in Switzerland in 2017, a senior Credit
Suisse investment banker said on Thursday.
These transactions could come from the health, financial,
industrial, consumer, service and technology sectors, Marco
Illy, the bank's chairman of corporate and investment banking in
Switzerland, told reporters.
"I would say definitely three, but it might also very likely
be five," Illy said.
There have been five new listings this year on Switzerland's
SIX stock exchange, the largest of which was VAT Group
with a transaction size of 621 million Swiss francs ($603
The total IPO transaction volume in 2016 was around 900
million francs, Switzerland's lowest since 2011, Credit Suisse
Credit Suisse expects that to rise next year to more than
4.5 billion francs, which Illy described as a "conservative
Swiss IPO volumes will likely be boosted by Credit Suisse's
own partial flotation of its domestic unit, Credit Suisse
(Schweiz). It plans to sell a stake of 20-30 percent in the
second half of 2017 subject to market conditions.
Illy, who is leading the IPO process, said there will be
investor demand for a bank which generates recurring income, is
nationally focused and offers an attractive dividend.
Credit Suisse is also working with two other unnamed
financial institutions which are considering IPOs, Illy said.
($1 = 1.0294 Swiss francs)
(Reporting by Joshua Franklin; Editing by Ruth Pitchford)