Speedel up in first trading day

Speedel (SWX:SPPN) gained CHF 15 (12%) to CHF 140 on Thursday, its first day of trading on the SWX Swiss Exchange. The cardiovascular and metabolic company listed 6.8 million existing shares at CHF 125, valuing the company at CHF 850 million ($690 million). UBS was SPPN's listing agent, while UBS, Merrill Lynch and Rued Blass were advisors. SPPN did not issue new shares or raise money. The company withdrew plans for an IPO in May because of market conditions (see BioCentury, Sept. 5, 2005). ...