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Winterthur Technology IPO June 2005


The price range for registered share being offered in the IPO of Winterthur Technology Ltd will be CHF 30 to CHF 36 per share.  The offering period shall start on 22 June and is expected to end on 30 June, 12.00pm CET.  The first day of trading on the SWX Swiss Exchange is expected to take place on 1 July 2005.

Winterthur Technology Ltd today announced further information with respect to its listing on the SWX Swiss exchange.  Up to 2,965,270 registered shares in Winterthur Technology Ltd are to be offered for between CHF 30 to CHF 36 per registered share.  Up to 1,100,000 shares will be newly issued by the Company and up to 1,865,270 will be sold by private equity investors.  A further up to 450,000 shares, consisting of 2/3 newly issued shares and 1/3 shares sold by the CEO of Winterthur Technology Ltd, Edgar Rappold, will be available for the over-allotment option.  With the exception of  the shares provided for the over-allotment option, Edgar Rappold will not sell any shares in the Offering. At present, there are 2,580,170 shares outstanding of Winterthur Technology Ltd.

The IPO will take the form of a public offering in Switzerland and Austria and private placements with institutional investors in selected countries, excluding the United States. Edgar Rappold and other management of the Company are committed to a12-month lock-up period, while the Company is committed to a 6-month lock-up period.

Investors may subscribe for shares in Winterthur Technology Ltd from 22 June to 30 June, 12.00pm CET.  The final issue price is expected to be announced on or about 30 June 2005 after book building process.  Trading on the SWX Swiss Exchange is expected to start on 1 July 2005.

Credit Suisse First Boston and Erste Bank der oesterreichischen Sparkassen AG are Joint Bookrunners for the IPO.

About the company

Winterthur Technology Group, a leading European provider of complex abrasive solutions, is headquartered in Zug and has operations in Switzerland, Austria and Sweden.  Winterthur Technology Ltd is a holding company under Swiss law. It has around 580 employees and achieved sales of approximately CHF 110 million in 2004. Working closely with clients, the company develops and produces complex high-margin, high-tech abrasive consumables, primarily grinding tools used in the automotive, gas turbine and steel industries.  Production is located in Austria (Villach) and Sweden (Västervik).  In Switzerland (Winterthur) a finishing plant and a logistics centre is operated.  The Group’s mainbrands are Winterthur, Rappold and SlipNaxos.  Winterthur Technology’s products – vitrified and resin bonded grinding wheels, cutting-off wheels and superabrasive tools – are sold in all relevant European markets as well as in North and South America and Asia.

Vision Capital is a limited liability partnership | Registered in England number: OC336240 | Authorised and regulated by the Financial Conduct Authority