ZURICH, March 22 (Reuters) - Swiss medical devices maker Medartis priced its initial public offering at 48 Swiss francs ($50.61) per share, implying a market capitalisation of 563 million francs and a free float of 24.6 percent including over-allotment shares, it said on Thursday.
That was in the middle of the indicated price range of 44 to 54 francs per share for the deal in which Zuercher Kantonalbank and Bryan, Garnier & Co are joint global coordinators and joint bookrunners for Medartis, while Kepler Cheuvreux is acting as co-manager. Quarton International is acting as financial adviser.
Gross proceeds of 123.9 million francs, or 142.6 million including the over-allotment shares, will be used to finance the company's strategic growth, it added in a statement.
Trading on the SIX Swiss exchange begins on Friday. ($1 = 0.9484 Swiss francs) (Reporting by Michael Shields)