UPDATE 1-Orior rallies at Swiss market debut

* IPO to raise up to 189.1 mln Sfr with greenshoe

* Price range was 42 Sfr to 52 Sfr

* Shares trading at 50.15 Sfr, above IPO price of 48 Sfr

(Adds details)

ZURICH, April 22 (BestGrowthStock) – Shares in food company Orior
(ORON.S: ), the first company to list on the Swiss exchange in
more than six months, traded above their issue price when they
made their market debut on Thursday.

Orior had set the price of its shares at 48 Swiss francs on
Thursday, towards the higher end of a 42-52 franc range and by
0801 GMT, shares were trading at 50.15 francs.

The company was set to raise at least 164.4 million Swiss
francs ($154.1 million), and up to 189.1 million if an
over-allotment option was exercised, by setting the issue price
at 48 francs, Orior said.

“We are pleased to see such high demand for our shares. It
confirms that investors have confidence in our company and its
prospects for the future,” said Orior Chief Executive Rolf
Sutter ahead of the stock’s first day of trading on Thursday.

The global market for initial public offerings is showing
new signs of life after a spate of downsizings and
postponements, though companies have frequently had to temper
their initial pricing expectations.

The issue price gives Orior a market capitalisation of
around 284 million Swiss francs and will have a free float of 58
percent, or 66 percent if the over-allotment option is
exercised, Orior said.

The company had revenue of 501 million francs in 2009 and
earnings before interest, tax, depreciation and amortisation
(EBITDA) of 52 million.

Stock Report

(Reporting by Jason Rhodes)
($1=1.067 Swiss Franc)

UPDATE 1-Orior rallies at Swiss market debut