On July 21, the $2.4bn IPO for Swiss metering tech firm Landis & Gyr Holding, was successfully completed, making it EMEA’s largest IPO so far this year. The deal is also the second largest IPO on SIX Swiss Exchange on record.
As a trusted financial platform partner, Dealogic helped the bookrunners seamlessly execute the transaction through the DealManager network. the IPO was also made available on Dealogic Connect, where investment firms can send electronic orders directly to banks.
Transaction Details
Issuer: Landis & Gyr Holding
Nationality: Switzerland
Industry: Technology
Deal Value ($m): $2,405
Deal Type: IPO
Selling Shareholders: Innovation Network Corp of Japan, Toshiba Corp
Bookrunners: UBS, Morgan Stanley, Credit Suisse, and JPMorgan
Key Points
- Largest IPO from an issuer in EMEA since innogy’s $5.2bn listing in October 2016
- World’s second largest technology IPO so far this year, behind Snap’s $3.9bn listing in March
- Largest IPO from a Swiss issuer since Sunrise Communication Group’s $2.5bn deal in February 2015; also the second largest IPO on record to list on SIX Swiss Exchange
- Biggest ECM sale on record of European shares by a Japanese shareholder
- Global tech IPO issuance totals $19.0bn from 161 deals in 2017 YTD–more than treble the $5.3bn raised in the same period last year, while deal activity is at a 16-year high (208 deals in 2001 YTD)
- EMEA IPO volume of $28.3bn in 2017 YTD is now up 49% year-on-year, led by issuance in Switzerland ($4.7bn), the United Kingdom ($4.3bn), and Spain ($3.4bn)
Top 3 EMEA IPOs in 2017 YTD
- Landis & Gyr Holding, $2.4bn | Technology | Switzerland | Jul 2017
- Galenica Sante, $1.9bn | Healthcare | Switzerland | Apr 2017
- ALD, $1.3bn | Finance | France | Jun 2017
Top 3 global tech IPOs in 2017 YTD
- Snap, $3.9bn | United States | Mar 2017
- Landis & Gyr Holding, $2.4bn | Switzerland | Jul 2017
- Netmarble Games Corp, $2.3bn | South Korea | Apr 2017
Top 3 IPOs on SIX Swiss Exchange on record
- Sunrise Communications Group, $2.5bn | Switzerland | Telecommunications | Feb 2015
- Landis & Gyr Holding, $2.4bn | Switzerland | Technology | Jul 2017
- Petroplus Holdings, $2.3bn | Switzerland | Oil & Gas | Nov 2006