Centiel goes public in first Swiss stock exchange listing of the year

• Centiel opened at 3.20 Swiss francs per share, with UBS organizing the transaction involving approximately 15.4 million shares
• The company reported net profit of 8 million francs on revenue of 45.7 million francs last year, with compound annual revenue growth averaging 30% from 2023 to 2025
• Management cited growing demand driven by digitization, artificial intelligence, and data center expansion as key growth drivers for their critical power protection solutions

Centiel Completes Swiss IPO Through Reverse Merger

Swiss technology firm Centiel went public on the Swiss Stock Exchange on Friday, marking Switzerland's first new listing of 2025. The company accessed public markets through a reverse merger with HT5, an already-listed holding company, rather than a conventional IPO.

Key Financial Details:

• Opening price: 3.20 Swiss francs per share
• 2024 net profit: 8 million Swiss francs
• 2024 net revenue: 45.7 million Swiss francs
• Compound annual revenue growth: 30% average from 2023-2025
• Transaction size: Approximately 15.4 million shares issued as part of the UBS-organized deal

Business Focus:

Centiel provides uninterruptible power supply (UPS) solutions to protect critical applications across several sectors, including the rapidly expanding data center industry, hospitals, banks, and research facilities like CERN nuclear research center.

Market Implications:

CEO Gerardo Lecuona positioned the company to capitalize on major technology trends, stating that UPS solutions are becoming increasingly vital due to digitization, artificial intelligence, and data center growth. The reverse merger strategy allowed Centiel to bypass the traditional IPO process, providing faster and potentially more cost-effective access to public markets during a period of limited listing activity.

The successful listing demonstrates continued investor appetite for technology infrastructure plays, particularly those supporting AI and data center expansion. Centiel's strong 30% revenue CAGR and profitability profile suggest solid fundamentals backing the public market entry. The UBS-backed transaction adds credibility to the deal structure in Switzerland's relatively quiet 2025 IPO market.