Polyphor ticks up after Swiss IPO

Polyphor Ltd. (SIX:POLN) gained CHF0.20 to CHF38.20 in its first day of trading Tuesday after raising CHF155 million ($155.3 million) through the sale of 4.1 million shares at CHF38 in an IPO on the SIX Swiss Exchange. The IPO price was at the top end of Polyphor's proposed range of CHF35-CHF38, and values the company at CHF409.5 million ($410.3 million).

The underwriters were UBS, Deutsche Bank, Cantonal Bank of Zurich, Cantor Fitzgerald and Octavian...