Home News Oerlikon postpones GrazianoFairfield IPO owing to market volatility

Oerlikon postpones GrazianoFairfield IPO owing to market volatility

101
SHARE

Oerlikon provides engineers materials, equipment, surfaces and expert services to enable customers to have high-performance products and systems with extended lifespans.

Oerlikon has announced that due to the adverse equity market conditions, the IPO, initial public offering of GrazianoFairfield AG’s shares on SIX Swiss Exchange is put on hold. Accelerated volatility since the beginning of the book building process and related sentiment in the stock market do not provide a favorable environment for a listing of Oerlikon’s Drive Systems Segment.

The Board of Directors and the Oerlikon management team, remain committed to generating value for shareholders, customers and employees.

Dr. Roland Fischer, CEO Oerlikon Group sai, “Oerlikon will continue to execute on its strategy. We will further invest in our Surface Solutions and Manmade Fibers businesses, both organically and through targeted acquisitions and will revisit the listing of the Drive Systems Segment when market conditions are appropriate.”