Credit Suisse Predicts Increase in Switzerland IPOs Next Year

Credit Suisse AG (CSGN)’s head of investment banking in Switzerland predicted more companies will hold initial public offerings in the country next year.

“There’s an increasing trend of companies planning IPOs,” Marco Illy said at a briefing in Zurich. “We see about three IPOs in the first half of 2014. There could be one or two more in the second half of 2014 on the back of half-year results announcements. However, there are a number of factors that drive the decision and the timeline, so it’s difficult to give a reliable estimate.”

Consumer finance provider Cembra Money Bank AG (CMBN), a spinoff from General Electric Capital Corp., was the only Swiss IPO this year, selling about 1 billion francs ($1.13 billion) of shares on Oct. 30. Ledermann Immobilien AG, a Swiss real-estate company, postponed its planned offering two months ago because of lower-than-expected interest for its shares.

SFS Intec AG, a Swiss maker of fasteners and fittings, has said it may have an IPO as soon as the second quarter of 2014. The company said in April that it would prepare a public offering over the next 12 to 24 months to raise cash for growth projects.

To contact the reporter on this story: Patrick Winters in Zurich at pwinters3@bloomberg.net

To contact the editor responsible for this story: Simon Thiel at sthiel1@bloomberg.net

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