Stadler Rail launches IPO with Credit Suisse and UBS as Joint Global Coordinators

On March 29, 2019, Stadler Rail AG announced the launch of its initial public offering and listing of its shares on SIX Swiss Exchange with Credit Suisse and UBS as Joint Global Coordinators and Joint Bookrunners, Citigroup, Zürcher Kantonalbank, BNP PARIBAS as Joint Bookrunners and UniCredit Bank AG as Co-Lead Manager, as well as Reichmuth & Co., St.Galler Kantonalbank AG and Thurgauer Kantonalbank as Selling Agents.

The IPO consists of up to 40,250,000 existing shares (including an over-allotment option of up to 5,250,000 existing shares) offered (directly and indirectly) by Peter Spuhler. The price range for the offered shares has been set at CHF 33 to 41 per share, implying an offer size of approximately CHF 1.155 million to CHF 1.435 million for the base offering and a total market capitalization of approximately CHF 3.3 billion to CHF 4.1 billion. The listing and first day of trading on SIX Swiss Exchange are expected to be on or around April 12, 2019.

Headquartered in Bussnang, Switzerland, Stadler Rail is a leading global pure-play producer of rolling stock and related systems. Stadler Rail has more than 8,500 employees and has, over the course of its history, sold more than 8,000 trains and locomotives that operate in 41 countries.

Lenz & Staehelin is advising the banking syndicate in this transaction. The team is led by Patrick Schleiffer (Capital Markets) and includes partner Hans-Jakob Diem (Corporate and M&A) as well as associates Patrick Schärli and Ramona von Riedmatten (both Capital Markets) and Ann Francesca Weibel (Corporate and M&A).