(Adds details about books being covered)
BERLIN, March 22 (Reuters) - Swiss medical devices maker Medacta Group SA's initial share sale (IPO) was overscribed within its price range of 88 to 104 Swiss francs per share, one of the bookrunners said on Friday.
The announcement, by bookrunner Morgan Stanley, that Medacta's books had been more than covered by interested investors on the same day the range was announced adds to the likelihood the IPO will proceed. Trading is due to start April 4 on the SIX Swiss exchange.
The maker of orthopedic implants for knees and spines, which hopes its initial public offering will boost its public profile as it competes with larger, better-known device makers, had said it was offering up to 6.56 million shares, worth up to 682 million Swiss francs ($687 million), from its founding Siccardi family's holdings for the flotation, with an over-allotment expected.
The implied market capitalisation of Medacta is up to 2.1 billion francs, with the free float up to 33 percent. The Siccardis would retain the rest of the shares.
Medacta employs 930 people and generated total revenue of 273 million euros ($311 million) in 2018 with adjusted earnings before interest, taxes, depreciation and amortisation about 32 percent of sales, it has said.
Swiss trainmaker Stadler is also hoping to take advantage of rising markets early in 2019 to list shares, with its IPO expected within the next few months.
Morgan Stanley and Credit Suisse have been appointed as joint global coordinators and bookrunners for Medacta's IPO. JP Morgan and UBS Investment Bank are acting as joint bookrunners. Rothschild is acting as independent financial adviser to Medacta. ($1 = 0.8789 euros) ($1 = 0.9925 Swiss francs) (Reporting by Riham Alkousaa; editing by Brenna Hughes Neghaiwi and Elaine Hardcastle)