The shares of Sensirion were priced at CHF 36 per share, at the top end of the price range, corresponding to a placement volume of CHF 276 million and a total market capitalization for Sensirion of CHF 504 million (before exercise of the over-allotment option). In the IPO, the offered shares were several times oversubscribed due to strong demand from Swiss and international institutional shareholders as well as domestic private investors.
Commenting on today’s announcement Felix Mayer (picture above left), Founder and Co-Chairman of the Board of Directors of Sensirion Holding AG, said: “It is great to open this next chapter of Sensirion as a public company. Since its inception 20 years ago, Sensirion has shown its ability to adapt to new market trends and delivering growth through several macroeconomic cycles and technology transformations. With the established pool of anchor shareholders, we will ensure the sustainable development of Sensirion. Moritz Lechner (picture above right) and I will remain fully committed to Sensirion and look forward to capturing the growth opportunities in environmental and flow sensors with our dedicated team.”
Marc von Waldkirch, CEO of Sensirion, added: “We are delighted by the successful placement of our shares and the strong investor interest in Sensirion. Swiss and international institutional as well as domestic private investors are convinced of our robust business model benefitting from secular trends and the attractive prospects in the sensor industry. The increased public visibility of Sensirion combined with our entrepreneurial company culture can help us to attract the best talents available by benefitting in the long-term of a highly committed and qualified workforce. We welcome our new shareholders and look forward to building on the broader shareholder base for the further development of Sensirion.”
New growth opportunities
The bank syndicate placed 6,150,000 existing shares being offered by the majority shareholder, Gottlieb Knoch, and 1,530,000 newly issued shares offered by Sensirion in the base offering. The net proceeds from the primary offering will provide Sensirion with enhanced flexibility for its future financing and corporate strategy and will enable Sensirion to exploit additional growth opportunities.
Sensirion has also granted the Joint Global Coordinators an over-allotment option of up to 1,152,000 newly issued registered shares, representing up to 15% of the total number of shares in the base offering, exercisable within 30 calendar days after the first day of trading on SIX Swiss Exchange. If the over-allotment option is exercised in full, the placement volume of the IPO will be CHF 318 million and the total market capitalization for Sensirion will be CHF 545 million.
The shareholder structure will consist of a stable pool of anchor shareholders, including the Founders, who will collectively hold 33.6% of the share capital (31.1% if the over-allotment option is exercised in full). Management shareholders and the company have committed to a lock-up period of 12 months after the first trading day. The selling shareholder has committed to a lock-up period of six months after the first trading day.
Picture: Felix Mayer and Moritz Lechner, Founders and Co-Chairmen of the Board.