Stadler Rail shares jump to first-day premium after Swiss flotation
ZURICH - Shares in Stadler Rail surged on Friday as investors piled in to an oversubscribed initial public offering that valued the Swiss trainmaker at around $3.8 billion and made more than a billion Swiss francs for Chairman Peter Spuhler.
The flotation aims to help Stadler finance acquisitions and strengthen its hand when bidding for contracts. It marks the next stage in its growth strategy aiming to double sales to 4 billion francs by 2020. The deal is the latest large flotation in Switzerland, where IPOs are gaining pace after 12 companies listed in 2018.
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