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Sensirion Sets IPO Price Range Of CHF 28 To CHF 36

Sensirion Holding AG, a manufacturer of environmental and flow sensors domiciled in Staefa, Switzerland, announced the launch of its Initial Public Offering on SIX Swiss Exchange. The price range for the offered shares has been set at 28 Swiss francs to 36 francs per share.

The IPO consists of up to 9.33 million shares. In the base offering, 6.15 million existing shares are being offered by the majority shareholder, Gottlieb Knoch, and up to 1.96 million newly issued shares are being offered by Sensirion. For the newly issued shares in the base offering, Sensirion is targeting gross proceeds in the amount of approximately 55 million francs.

In addition, Sensirion has granted the Joint Global Coordinators an over-allotment option of up to 1.22 million newly issued registered shares. The shares issued under the over-allotment option will not exceed 15% of the total number of shares in the base offering.

Sensirion noted that the net proceeds from the primary offering will provide the company with enhanced flexibility for its future financing and corporate strategy and will enable Sensirion to exploit additional growth opportunities.

The price range for the offered shares has been set at 28 francs to 36 francs per share, implying an offer volume of approximately 227 million francs to 276 million francs in the base offering (261 million francs to 318 million francs assuming full exercise of the over-allotment option) and a total market capitalization of approximately 404 million francs to 503 million francs or 438 million francs to 545 million francs assuming full exercise of the over-allotment option.

Felix Mayer and Moritz Lechner, Founders and Co-Chairmen of Sensirion, will not sell any of their shares in the IPO. They remain fully committed to the long-term development of the Company.

In 2017, Sensirion generated revenue of 148 million francs, an adjusted EBITDA of 26 million francs and an adjusted EBITDA margin of 18%.

In 2018, Sensirion expects revenue growth of 15-18% and an adjusted EBITDA margin of 15-16%. In the mid-term, Sensirion targets annual revenue growth of 10-15% and an annual adjusted EBITDA margin trending towards 20%.

The first day of trading on SIX Swiss Exchange is expected to be on or around 22 March 2018.

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