The Swiss technology corporation, Unaxis, has announced it intends to float its vacuum measuring and monitoring instrumentation division, INFICON, on the Swiss stock exchange early next month.
Unaxis, formerly Oerlikon-Bührle, said it planned to float 1,421,000 shares, which would reduce its stake to some 25 per cent of INFICON, including a capital increase.
After the exercise of the over-allotment option (greenshoe), Unaxis would hold 13.8 per cent of INFICON shares.
The company said the float was part of its strategy to focus on the information technology industry.
"The initial public offering will enable INFICON to pursue its entrepreneurial targets more swiftly and directly," said Willy Kissling, chairman and chief executive officer of Unaxis.
Trading is set to start on November 9.
On Wednesday, Unaxis announced that its sales for the first nine months of the year were SFr2.14 billion ($1.2 billion), up by 36 per cent over the same peiod last year.
swissinfo with agencies