16 September 2011 08:26 [Source: ICIS news]
SINGAPORE (ICIS)--Switzerland’s biopharmaceutical firm Lonza Group said on Friday it plans a secondary listing of its shares in Singapore in the fourth quarter.
Lonza said it will be the first SIX Swiss Exchange listed company to have a listing in Singapore.
UBS AG, Singapore branch will act as sole issue manager for Lonza’s listing in Singapore, it said.
“This strategic move to list in Singapore enables us to have a more visible presence in Asia, in addition to allowing us to tap the strong capital flows in Asia, while enlarging and broadening our current investor base in the region,” said Lonza CEO Stefan Borgas in a statement.
Lonza had announced in June an expansion of its biopharmaceutical development services platform in Singapore with an additional investment of Swiss franc (Swfr) 10m ($11.6m). The facility is expected to come on-line in the first half of 2012, it said.
It recently opened a mammalian cell culture plant in Singapore and expects to open its new L-carnitine and Niacinamide facilities in China later this year and in 2012, respectively, it added.
Lonza made Swfr284m in net profit last year, with sales at Swfr2.68bn.
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