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Accelleron Makes a Steady Swiss Debut Following ABB Spinoff

Oct. 3, 2022, 3:52 PM

Shares in turbocharging business Accelleron had an unspectacular debut in Switzerland after their spinoff from parent ABB Ltd.

The shares closed at 18.1 francs after trading between 17.01 francs and 18.76 francs. Accelleron’s market valuation is around 1.7 billion francs, a fraction of ABB’s 47.8 billion francs after the latter’s shares fell 2.2% on Monday.

ABB shareholders received one Accelleron share for every 20 ABB shares as a dividend in kind. The spinoff of the turbocharging division had been in the works for months but was pushed back due to highly volatile stock markets.

The company’s Chief Executive Officer Bjoern ...