SWITZERLAND – Dairy group Emmi has said that its float on the SWX Swiss stock exchange has been a success.

The initial share issue at the beginning of December was oversubscribed by ten times, with most going to Swiss institutional and retail investors.

Commenting on the news, chief executive Walter Huber said: “We are delighted with the level of interest in the Emmi share. We see this as a proof of confidence in our company and confirms that we are on the right track.” Trading of the shares began on 6 December. In the first half of 2004, Emmi posted gross sales of