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SIX Swiss Exchange woos Indian life sciences firms for listing

Press Trust of India  |  New Delhi 

Leading European bourse SIX Swiss Exchange is courting Indian life sciences and specialty chemical firms to get listed on its platform and has reached out to over 200 firms in the country for their IPOs.

"We are targeting players from pharmaceutical, biotech, health care and medtech for listing on our platform. Besides, we are focusing on companies which provide services to these sectors," SIX Swiss Exchange Head Issuer Relations Marco Estermann told PTI here.

He is in India to interact with prospective firms in Delhi and Mumbai.

The Swiss financial centre and SIX Swiss Exchange hold a strong appeal for life sciences and specialty chemical companies.

"We have zeroed in on 200-250 companies from these sectors. Some of these firms have just begun operations and will take them 2-3 years to come out with an initial public offering. We are making sure we are here for these firms," Estermann said.

The exchange with over USD 1.2 trillion of free float market capitalisation has many benefits to offer to Indian companies.

For one, for Indian companies looking to raise money in Europe, SIX Swiss Exchange provides access to an experienced pool of Swiss and international investors. It will also enable them to gain visibility and trading liquidity.

Asked about the exchange finding it difficult to attract Indian firms as Switzerland is perceived as a tax haven, Estermann said, "I do not think, it's coming in our way to attract an Indian issuer. It has been a topic in some of the discussions we have had. Switzerland is adhering to all OECD standards."

He added: "It is an FATF (Financial Action Task Force) approved jurisdiction. Now, the new norms have come in, any Indian unlisted company can list overseas on any of the 34 FATF-approved jurisdiction. Switzerland is an FATF approved jurisdiction. We have not faced any challenges in terms of attracting Indian issue."

Also, SIX Swiss Exchange allows confidential filing and a maximum four-week documentation review process, thus facilitating a quick listing.

Apart from equity, the Zurich-headquartered bourse is eyeing participation from Indian companies in bond issuance and depository receipts (equity side) too.

A total of eight Indian firms had mobilised USD 2 billion in debt on the SIX Swiss Exchange in the last four years.

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First Published: Tue, April 26 2016. 14:07 IST