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Online drug store Zur Rose fixes IPO price at 140 francs
July 5, 2017 / 4:16 PM / 5 months ago

Online drug store Zur Rose fixes IPO price at 140 francs

ZURICH, July 5 (Reuters) - Online pharmacy Zur Rose Group said on Wednesday it had fixed the price for its initial public offering at 140 Swiss francs per share, the upper end of an indicative range of 135 francs to 140 francs.

The placement volume will be 252 million francs ($261.1 million) and the company will have a market capitalisation of approximately 871 million francs, assuming the greenshoe option is fully exercised, Zur Rose said in a statement.

The company said the offer heavily oversubscribed. Trading in the shares will start on SIX Swiss Exchange on Thursday.

Gross primary proceeds of 200 million francs - or 233 million if the greenshoe is fully exercised - will be used to fund expansion in Germany, where its business runs under the name DocMorris, as well as in other European markets. ($1 = 0.9650 Swiss francs) (Reporting by Silke Koltrowitz; editing by David Clarke)

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