May 3, 2018 / 4:53 AM / 6 months ago

Ceva Logistics prices IPO at 27.50 Swiss francs per share

ZURICH, May 3 (Reuters) - Transport firm Ceva Logistics priced its initial public offering at 27.50 Swiss francs per share, the low end of its indicated range, raising 1.2 billion Swiss francs ($1.20 billion) in an all-primary offering to repay debt, it said on Thursday.

CMA CGM Group is spending 379 million francs via a private placement to get a roughly 25 percent stake in Ceva Logistics, which is owned by private equity firm Apollo.

Trading on the SIX Swiss Exchange starts on Friday.

$1 = 0.9968 Swiss francs Reporting by Michael Shields, editing by John Revill

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