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Swiss pharmacy group Zur Rose says looking at possible IPO
May 5, 2017 / 7:36 AM / 7 months ago

Swiss pharmacy group Zur Rose says looking at possible IPO

ZURICH (Reuters) - Swiss mail-order pharmacy Zur Rose Group [ZUROS.UL] has hired investment banks to look at a possible public listing of shares, it said on Friday.

“The options which are being assessed by UBS (UBSG.S) and Berenberg on behalf of Zur Rose Group include an initial public offering with capital increase, further private funding as well as additional debt financing,” the Frauenfeld-based company said in a statement.

Its board of directors may send out an invitation to an extraordinary general meeting “in the coming weeks”, Zur Rose said.

An IPO would be the second listing of a Swiss pharmacy group after Galenica Sante (GALE.S) raised 1.9 billion Swiss francs ($1.92 billion) last month in Europe’s biggest flotation so far this year.

Shares in Zur Rose now trade on Berner Kantonalbank’s OTC-X, Zuercher Kantonalbank’s eKMU-X and Lienhardt & Partners Private Bank Zurich Ltd’s trading platforms.

The company has more than 800 employees and generated revenue of 880 million Swiss francs in 2016.

Reporting by Joshua Franklin; Editing by Michael Shields

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