Author Archives: CapLaw

SFS acquires Hoffmann SE

The current owners of Hoffmann SE agreed to contribute 100% of the shares of Hoffmann SE to the SFS Group, which is listed on the SIX Swiss Exchange. Hoffmann SE is a leading international systems partner for quality tools which is active in over 50 countries with around 3,000 employees. A part of the purchase price will be paid in the form of SFS shares. Thus, the current owners of Hoffmann SE will become significant shareholders of SFS.

IPO of Switzerland’s First SPAC

On 6 December 2021, VT5 Acquisition Company AG (VT5), a special purpose acquisition company (SPAC), announced the launch of its initial public offering and the listing of its Class A Shares and redeemable warrants on SIX Swiss Exchange, which is scheduled for 15 December 2021. VT5 plans the acquisition of one or more operating companies or businesses in the industrial technology sector within 24 months of listing.

Novartis sells stake in Roche

On 3 November 2021, Novartis agreed to sell 53.3 million Roche bearer shares in a bilateral transaction to Roche for a consideration of CHF 19 billion. Novartis had acquired the stake between 2001 and 2003. The transaction is subject to the approval by the shareholders of Roche.

IPO of SKAN Group

On 27 October 2021, SKAN Group AG, a global market leader in high-quality isolator systems for aseptic production processes in the (bio)pharmaceutical industry, announced the pricing of its IPO, consisting of 1,731,494 newly issued shares and 2,768,506 existing shares and an over-allotment option of up to 500,000 shares, at CHF 54 per share, implying a total market capitalization of CHF 1.214 billion. SKAN’s shares started trading on SIX Swiss Exchange on 28 October 2021.

Spin-off and IPO of medmix

On 1 October 2021, the shares of medmix AG were listed at SIX Swiss Exchange following the spin-off of medmix from Sulzer AG. Concurrently, medmix conducted a capital increase raising gross proceeds of CHF 315 million.

UBS Group Notes Issuances

Between 3 and 9 November 2021, UBS Group AG successfully completed the issuance under its Senior Debt Programme of EUR 1.25 billion in aggregate principal amount of 0.250 per cent. Fixed Rate/Fixed Rate Callable Senior Notes due November 2026, and EUR 1.25 billion in aggregate principal amount of 0.875 per cent. Fixed Rate Senior Notes due November 2031, CHF 440 million in aggregate principal amount of 0.435 per cent. Fixed Rate Callable Senior Notes due November 2028 and GBP 400 million in aggregate amount of 1.875 per cent. Fixed Rate/Floating Rate Callable Senior Notes due 2029 under its Senior Debt Programme. The Notes are bail-inable (TLAC) bonds that are eligible to count towards UBS Group AG’s Swiss gone concern requirement. The Notes are governed by Swiss law and have been admitted to trading on the SIX Swiss Exchange.

Santhera Pharmaceuticals equity financing

On September 22, 2021, Santhera Pharmaceuticals Holding AG announced an equity financing of CHF 20 million via a private placement of shares, a placement of private convertible bonds of CHF 15 million and upsizing of an existing financing arrangement of up to CHF 10 million. In addition, Santhera agreed to issue warrants to participating investors.

IPO of On Holding on NYSE

On 15 September 2021, On Holding AG, an athletic shoe and performance sportswear company, successfully completed its initial public offering on the New York Stock Exchange (NYSE). The offering consisted of 31,100,000 Class A ordinary shares, of which 25,442,391 were offered by On Holding AG and 5,657,609 were offered by the selling shareholders, and an over-allotment option granted to the underwriters of an additional up to 4,665,000 Class A ordinary shares (which was exercised in full on 15 September 2021). The issuance price was USD 24 per Class A ordinary share. Trading of the shares on NYSE commenced on 15 September 2021 under the ticker symbol “ONON”. 

Swiss Life Green Bonds Issuance

On 15 September 2021, Swiss Life issued EUR 600 million 0.500 per cent guaranteed green bonds due 2031. The bonds have been issued by Swiss Life Finance I AG and are unconditionally and irrevocably guaranteed by Swiss Life Holding AG. Swiss Life intends to apply an amount equal to the net proceeds of the bonds to finance or refinance green assets.

IPO of Sportradar on Nasdaq

On 14 September 2021, Sportradar Group AG successfully commenced trading on the Nasdaq Global Select Market with a total market capitalization of approximately USD 8 billion. Sportradar is a leading global provider of sports betting and sports entertainment products and services, and the number one provider of business-to-business solutions to the global sports betting industry based on revenue.