Klingelnberg AG launches IPO
Niederer Kraft Frey advised Klingelnberg AG in connection with its initial public offering that launched today. The offering consists of up to 512,800 new shares and up to 4,105,651 existing shares with an over-allotment option of up to 461,845 existing shares. The existing shares will be sourced from the Klingelnberg family, the current sole and future anchor shareholder. The price range for the offered shares has been set at CHF 45 to CHF 54 per share, implying an offer volume of approximately CHF 210 million to CHF 245 million in the base offering, and approximately CHF 230 million to CHF 270 million including the over-allotment option.
Klingelnberg is a global market leader in developing and manufacturing premium machine tools for bevel gear and cylindrical gear machining and precision measuring centers for gears. In addition, Klingelnberg is one of the few providers of machine tools and measuring centers for gear production that also manufacturers bevel gears itself to customer specifications.
The NKF team was led by Capital Markets partner Till Spillmann, working with counsel Christina Del Vecchio, senior associate Andrea Giger, associate Ivo von Büren and junior associates Alexander Fisch and Pascal Hodel on Capital Markets, partners Markus Kronauer and Thomas Graf, counsels Andrea Nordin and Christina Rinne on Tax, partner Clara-Ann Gordon on Technology and Nicolas Birkhäuser on Competition.