01:50 PM EDT, 09/03/2024 (MT Newswires) -- Carlyle Group ( CG ) has tapped Bank of America ( BAC ) , Morgan Stanley ( MS ) and UBS (UBS) for a potential initial public offering of Switzerland-based Acrotec Group, Bloomberg reported Tuesday.

The Zurich listing is likely to take place in H1 of 2025, the report said, citing people familiar with the matter.

Acrotec, which supplies precision components for watches, could be valued at as much as 4 billion Swiss francs ($4.7 billion), according to the report.

The bank lineup and IPO details including valuation and timing could still change, the sources said.

Representatives for Carlyle, which acquired Acrotec from Castik Capital in 2021, and the banks declined Bloomberg's requests for comment.

The private equity firm and the banks didn't immediately reply to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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