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Demand 'Exceptionally High' in IPO, Swiss Firm Says
CNBC.com | March 20, 2012 | 05:05 AM EDT

Swiss services group DKSH said demand for its IPO was "exceptionally high" as it priced its public offering at 48 Swiss francs ($52.6) a share - the uppermost point of its previously guided 46-48 francs share price range.

The IPO values the company at more than 3 billion Swiss francs but analysts caution that the actual success of the public offering will not be determined until the shares have performed well in the secondary market over the next few weeks.

Calling the IPO a "landmark transaction", Christian Katz, the CEO of the Swiss stock exchange SIX told CNBC.com that it may also lead to increased IPO activity in Switzerland this year.

"I believe that there is enough investor interest and liquidity for attractive high quality companies to come to the public market," Katz said. "Given that equity markets have been rising on low volatility and low volume recently I would expect the perceived valuation gap between investors and IPO candidates to be gradually eroded."

"There is definitely some IPO backlog in the market and several companies are evaluating a float with us. Most of the potential candidates are however well capitalized and are watching market developments, including the DKSH IPO, closely," he added.

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