Author Archives: CapLaw

Bär & Karrer Advises the Banking Syndicate in the IPO of Polyphor

Polyphor Ltd, a clinical-stage biopharmaceutical company focused on the discovery and development of innovative antibiotics and other specialty pharma products, successfully priced its IPO and listed its shares on the SIX Swiss Exchange. Trading in the shares started on 15 May 2018. The shares were priced at the upper end of the price range, resulting in gross proceeds of CHF 165 million. The IPO of Polyphor is considered the largest biotech IPO in Switzerland in over 10 years and one of the top three in Europe within the last three years in terms of proceeds raised by an issuer in order to finance the development of its pipeline.

Bär & Karrer Advises CEVA Logistics on its IPO, the anchor investment by CMA CGM and its migration to Switzerland

CEVA Logistics, one of the world’s leading third-party logistics companies, successfully priced its IPO and listed its shares on the SIX Swiss Exchange, where trading commenced on 4 May 2018. With a market capitalization of CHF 1.6 billion and generating gross proceeds of CHF 821 million, this is so far considered as the largest IPO on the SIX Swiss Exchange for 2018.

IPO of Sensirion Holding AG on SIX Swiss Exchange

On 12 March 2018, Sensirion Holding AG (Sensirion) announced the launch of its initial public offering (IPO) on SIX Swiss Exchange and the first trading day was March 22, 2018. The shares of Sensirion were priced at CHF 36 per share, at the top end of the price range, corresponding to a placement volume of CHF 276 million and a total market capitalization for Sensirion of CHF 504 million (before exercise of the over-allotment option). The bank syndicate placed 6,150,000 existing shares offered by the majority shareholder, Gottlieb Knoch, and 1,530,000 newly issued shares offered by Sensirion in the base offering. Sensirion raised gross proceeds from the IPO of CHF 55 million (before exercise of the over-allotment option).

IPO of Medartis Holding AG on SIX Swiss Exchange

On 12 March 2018, Medartis Holding AG (Medartis) announced the launch of its initial public offering (IPO) on SIX Swiss Exchange and the first trading day was March 23, 2018. The shares of Medartis were priced at CHF 48 per share, corresponding to a placement volume of CHF 123.9 million (excluding the over-allotment option) and a total market capitalization for Medartis of CHF 563 million. The bank syndicate placed 2,604,166 new registered shares in the base offering. Medartis raised gross proceeds from the IPO of CHF 123.9 million (excluding the over-allotment option).

Seminar: Company Law Conference XIV

(Gesellschaftsrechtstagung XIV)

25 May 2018, SIX ConventionPoint Zürich
https://irp.unisg.ch/de/weiterbilden/veranstaltungen/2017/gesellschaftsrechtstagung-xiv

Seminar: News on Collective Investment Schemes

(Aktuelles zum Kollektivanlagenrecht V)

31 May 2018, Lake Side, Zurich
http://www.eiz.uzh.ch/weiterbildung/seminare/

Seminar: Developments in Financial Market Law

(Tagung zu Entwicklungen im Finanzmarktrecht)

5 June 2018, Lake Side, Zurich
http://www.eiz.uzh.ch/weiterbildung/seminare/

St. Gallen Banking Day 2018

(St.Galler Bankrechtstag 2018)

15 June 2018, SIX ConventionPoint, Zurich
https://irp.unisg.ch/de/weiterbilden/veranstaltungen/2017/bankrechtstag-2018

Bär & Karrer Advised Orior on the Placement of Shares by Way of an Accelerated Bookbuilding

Orior AG successfully placed 592,499 new shares by way of an accelerated bookbuilding in a private placement with institutional investors. The placed shares are sourced from the company’s existing authorized share capital and the pre-emptive rights of the existing shareholders have been excluded.

Bär & Karrer Advises Novartis on the Placement of EUR 2,250,000,000 Guaranteed Notes

Novartis Finance S.A. completed the placement of EUR 750,000,000 Guaranteed Notes due 2023, EUR 750,000,000 Guaranteed Notes due 2030 and EUR 750,000,000 Guaranteed Notes due 2038. The 2023 Notes were issued at 99.655% of their principal amount with an interest of 0.500% and will mature on 14 August 2023 at their nominal value. The 2030 Notes were issued at 99.957% of their principal amount with an interest of 1.375% and will mature on 14 August 2030. The 2038 Notes were issued at 99.217% of their principal amount with an interest of 1.700% and will mature on 14 August 2038. The Notes are guaranteed by Novartis AG. They have been provisionally admitted to trading at the SIX Swiss Exchange and are expected to be listed there as well.