Category Archives: News, Deals & Cases

Rights Offering of Cavotec SA

On 10 January 2019, Cavotec SA completed a capital increase by way of a rights offering to its shareholders in the amount of approximately CHF 22.4 million. The Cavotec group, with its Swiss holding company listed on Nasdaq Stockholm, is a leading engineering group that designs and manufactures automated connection and electrification systems for ports, airports and industrial applications worldwide. 80.5% of the shareholders of Cavotec SA exercised their subscription rights in the rights offering. The remaining new shares not subscribed were allotted to investors who had subscribed for shares without subscription rights, pursuant to the allocation procedure described in the prospectus of 6 December 2018. The offer price was set at SEK 13 per share.

Acquisition of Medpex’s e-commerce activities by Zur Rose Group

On 18 October 2018, Zur Rose Group AG, Europe’s leading e-commerce pharmacy which is listed on SIX Swiss Exchange, announced that it is acquiring the e-commerce activities of Germany’s third largest online pharmacy medpex. The transaction was subject to regulatory clearances and closed on 4 January 2019.

Santhera Pharmaceuticals Holding Placement of Shares

Santhera Pharmaceuticals Holding AG (Santhera) placed 3,133,334 new shares at an offer price of CHF 7.50 per share. The shares were placed by way of an accelerated bookbuilding procedure in a public offering in Switzerland, in private placements outside of the United States and Switzerland and in private placements within the United States to qualified institutional buyers. The shares were issued under exclusion of the existing shareholders’ subscription rights through an ordinary capital increase resolved by an extraordinary shareholders’ meeting.

Rights Offering of Kuros Biosciences

On 18 December 2018, Kuros Biosciences, a life science company focusing on the development and marketing of orthobiologics, completed a capital increase by way of a rights offering to its shareholders in the amount of approximately CHF 16.1 million. 34.6% of the shareholders of Kuros Biosciences exercised their subscription rights in the rights offering. The remaining new shares not subscribed were placed in the market. The offer price was set at CHF 2.50 per share.

Mirabaud, Octavian and Helvetische Bank acted as Managers.

ARYZTA completed a rights offering in the amount of approximately CHF 900 million

On 19 November 2018, ARYZTA, a global food business with a leadership position in speciality bakery, completed a capital increase by way of a rights offering structured as a volume underwriting in the amount of approximately CHF 900 million.

Amun issues cryptocurrency-linked Exchange Traded Products

On 13 November 2018, Amun AG, a Zug-based special purpose issuance vehicle of the fintech group Amun, successfully registered its issuance program for the issuance of Exchange Traded Products (ETP) on the SIX Swiss Exchange.

Zur Rose Group completed a rights offering in the amount of approximately CHF 190 million

On 29 November 2018, Zur Rose Group AG, Europe’s largest online pharmacy and one of the leading medical wholesalers in Switzerland, completed its rights issue to support the financing of the medpex acquisition as well as other organic growth initiatives.

Rights Offering of ARYZTA

On 19 November 2018, ARYZTA, a global food business with a leadership position in speciality bakery, completed a capital increase by way of a rights offering structured as a volume underwriting in the amount of approximately CHF 900 million. 97.4% of the shareholders of ARYZTA exercised their subscription rights in the rights offering. The new shares not subscribed were placed in the market.

SIG Combibloc Group IPO on SIX Swiss Exchange

SIG Combibloc Group, a leading provider of aseptic carton packaging solutions for the food and beverage industry, sucessfully priced its IPO and listed its shares on the SIX Swiss Exchange, where trading commenced on 28 September 2018. The offering consisted of a base offering of both new and existing shares and a fully exercised over-allotment option of additional existing shares. The shares priced at CHF 11.25 per share, implying a total market capitalization of approximately CHF 3.6 billion.

Credit Suisse Group AG Issuances of Tier 1 Contingent Write-down Capital Notes

Credit Suisse Group AG (CSG) completed the issuances of CHF 300 million 3.5 per cent. Perpetual Tier 1 Contingent Write-down Capital Notes and USD 1.5 billion 7.250 per cent. Perpetual Tier 1 Contingent Write-down Capital Notes on 4 September and 12 September 2018, respectively. The Notes are “high trigger” regulatory capital instruments that are eligible to fulfill CSG’s Swiss going concern requirements, featuring a full contractual write-down if (among other events) CSG’s consolidated common equity tier 1 capital falls below 7 per cent. of its consolidated risk weighted assets. The Notes are traded on the SIX Swiss Exchange. Since the Notes are eligible to fulfill Swiss going concern requirements, they also qualify for an exemption from the Swiss withholding tax that would normally be applicable to bonds directly issued by the Swiss-domiciled CSG.