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Zur Rose group's shares open at 151 Sfr on first trading day
July 6, 2017 / 7:13 AM / 3 months ago

Zur Rose group's shares open at 151 Sfr on first trading day

ZURICH, July 6 (Reuters) - Online pharmacy Zur Rose Group’s shares opened at 151 Swiss francs and then rose 11 percent on their first trading day at SIX Swiss Exchange in Zurich on Thurday, well above the issue price of 140 Swiss francs.

The company said on Wednesday it expected a placement volume of 252 million Swiss francs ($260.98 million) and a market capitalisation of approximately 871 million Swiss francs ($902.87 million), assuming the greenshoe option is fully exercised.

The proceeds will be used to fund expansion in Germany, where its business runs under the name DocMorris, as well as in other European markets. ($1 = 0.9647 Swiss francs) (Reporting by Silke Koltrowitz)

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