In a historic move, R&S Group Holding AG, a renowned supplier of power and distribution transformers, has officially listed its shares on SIX Swiss Exchange under the ticker symbol RSGN. The opening bell saw shares priced at CHF 10.30 each, propelling R&S Group's market capitalization to an impressive CHF 267 million.
This strategic move comes as a result of a business combination with VT5 Acquisition Company (VT5), marking VT5 as the first SIX-listed Swiss Special Purpose Acquisition Company (SPAC). As part of the offering, VT5 allocated 5,431,798 shares at an issue price of CHF 10.00 per share. R&S Group's issued share capital now comprises 25,901,413 registered shares with a nominal value of CHF 0.10 per share. Effective December 14, 2023, R&S Group will join the prestigious Swiss Performance Index (SPI), SPI Extra Index (SPIEX), and SPI ex SLI TR Index (SXSLI).
Heinz Kundert, Chairman of the Board of R&S Group, expressed his satisfaction, stating, "With today's listing of R&S Group at SIX Swiss Exchange, VT5 has achieved its goal of bringing a hidden champion to the public markets." Jos Dijsselhof, CEO SIX, welcomed R&S Group to the SIX family, acknowledging the successful journey that began with the first Swiss SPAC in December 2021 and has now culminated in a transformative business combination with R&S Group.
R&S Group's portfolio ranges from distribution, cast resin and power transformers, to medium-voltage and high-voltage switching devices. It also includes specific railway electrification products and industrial electrical connectors.
Source: mondovisione.com