Category Archives: News, Deals & Cases

Acquisition of The Medicines Company

In connection with the acquisition of NASDAQ-listed biopharmaceutical company The Medicines Company for USD 9.7 billion, Novartis AG and Novartis Finance Corporation entered into a USD 7 billion short-term (bridge) credit agreement and completed a USD 5 billion four-tranche SEC-registered bond offering.

Placement of SGS Shares

The von Finck family successfully placed 960,000 shares (approx. 12.7%) in SGS SA by way of an accelerated bookbuilding process. The overall transaction volume amounts to CHF 2.3 billion. In light of its long-term investment strategy and planning, the family decided to divest a majority of its stake in SGS.

Valyo Innovative Capital Market Platform

Valyo AG, a subsidiary of Raiffeisen Switzerland, has developed an innovative digital platform for issuances of exchange listed bonds geared towards institutional investors. The Valyo platform, intended to be launched in the first quarter of 2020, enables issuers to carry out all steps from the initial registration of a planned issuance through the book building process to closing and listing of the bond issuance in an integrated digital process.   

Sunrise terminates SPA with Liberty Global

On 13 November 2019, Sunrise Communications Group AG announced that it had canceled the share purchase agreement with Liberty Global in connection with its proposed acquisition of UPC Switzerland. 

CRISPR Therapeutics AG public offering of an aggregate 4,887,500 common shares

On 20 November 2019, CRISPR Therapeutics AG launched its public offering of an aggregate 4,887,500 common shares on Nasdaq raising approximately USD 315.2 million. CRISPR Therapeutics is a leading gene editing company based in Zug, Switzerland, focusing on developing transformative gene-based medicines for serious diseases based on its proprietary CRISPR/Cas9 technology.

Jacobs Holding completes the placement of Barry Callebaut Shares

Jacobs Holding AG successfully placed 550,000 shares (approx. 10%) in Barry Callebaut AG by way of an accelerated bookbuilding process and a simultaneous private placement. Jacobs Holding thus diversified its portfolio while remaining Barry Callebaut’s reference shareholder with a stake of approximately 40%. Jacobs Holding is an investment company founded by entrepreneur Klaus J. Jacobs. The only economic beneficiary of Jacobs Holding is the Jacobs Foundation, one of the world’s leading charitable foundations for the promotion of development opportunities for children and young people.

Canton of Geneva issued a Green Bond

On 28 November 2019 the Canton of Geneva issued green bonds listed on the SIX Swiss Exchange in an aggregate amount of CHF 660 million. The issuance was made according to the Green Bond Principles published by the International Capital Market Association, and divided into three respective tranches of CHF 175 million with a maturity in 2028, CHF 200 million with a maturity in 2039 and CHF 285 million with a maturity in 2032.

WisdomTree Issuer X Limited launched one of the world’s first crypto index ETP listed on a regulated stock exchange

On 3 December 2019, WisdomTree Issuer X Limited was recognized by the SIX Swiss Exchange as a new Exchange Traded Product (ETP) issuer to its trading segment and, launched one of the world’s first crypto index ETP listed on a regulated stock exchange. The ETP is investing in Bitcoin.

Kuros Biosciences completes rights offering

On 6 December 2019, 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. 36.3% of the shareholders of Kuros Biosciences exercised their subscription rights in the rights offering. 2,818,718 of the remaining shares not subscribed were preferably allocated to Optiverder B.V. and further remaining shares were placed in the market. The offer price was set at CHF 1.95 per share.

SCHMOLZ + BICKENBACH AG launches its rights offering

SCHMOLZ + BICKENBACH’s rights offering that launched on 10 December 2019. On 2 December 2019, the extraordinary shareholders’ meeting of SCHMOLZ + BICKENBACH approved a capital increase of at least CHF 325 million through the issuance of up to 2,953,125,000 new registered shares, and a simultaneous reduction of the nominal value of the existing registered shares from CHF 0.50 per share to the level of the offer price, which is expected to be one of CHF 0.20, CHF 0.25 or CHF 0.30 per new share. The gross proceeds from the capital increase are envisaged to be at least CHF 325 million. The listing and first day of trading of the new registered shares on SIX Swiss Exchange are expected to take place on 9 January 2020.