The listing is expected to be one of Europe’s largest in the coming year and will be split across SIX and the NYSE
Global eye care giant Alcon (part of the Novartis family of companies) got listed today at SIX Swiss Exchange. The shares of Alcon were traded for the first time at SIX. The listing is expected to be one of Europe’s largest in the coming year and will be split across SIX and the NYSE.
The issued share capital of Alcon consists of 488’700’000 registered shares with a nominal value of CHF 0.04. A public offering of the company’s shares has not taken place. The total market capitalisation was around CHF 26.9 billion, based on the opening price of CHF 55.00 per share. Alcon is being admitted as of today into SMI indices, as already announced.
On February 28, 2019, Novartis shareholders approved the proposed 100 per cent spin-off of the Alcon eye care division to be implemented through the distribution of a dividend-in-kind of new Alcon shares to Novartis shareholders and American Depositary Receipt holders.
“Demand for eye care is growing exponentially as our population ages and people spend more time in front of screens and mobile devices,” said David Endicott, CEO, Alcon. “This listing marks a new chapter in the life of our company, all of us at Alcon are committed to addressing the growing consumer need for improved vision and eye health and to expanding access to quality eye care all around the world.”
Jos Dijsselhof, CEO, SIX emphasised, “I am pleased that Alcon is joining our life sciences universe. We are convinced that Alcon will capitalise several benefits with its listing on SIX as the leading life sciences exchange in Europe.”
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