Komax Rises as ‘All Options’ Reviewed for Units: Zurich Mover
Komax Holding AG (KOMN) rose the most in more than two months after the Swiss maker of wire-processing machines said it was “assessing all options” for its solar and Medtech units.
The stock rose as much as 4.8 percent, the biggest intraday gain since Jan. 16, to 88 francs at 12:14 p.m. in Zurich. More than 15,000 shares exchanged hands, more than twice the average three-month daily volume. That values the company at about 300 million francs ($317 million).
Komax Chief Executive Officer Beat Kaelin told analysts yesterday that the Dierikon, Switzerland-based company was reviewing the future of the two units, which both had losses last year.
“A potential divestment of Solar and Medtech would be a game changer for the equity story of Komax and would likely result in a revaluation of the stock,” Fabian Haecki, an analyst at Vontobel in Zurich, wrote in a note to customers today.
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