Tag Archives: CapLaw-2016-28

EFG International AG conducts CHF 295 million rights offering in connection with the proposed acquisition of BSI SA

On 11 May 2016, EFG International AG, a global private banking group offering private banking and asset management services headquartered in Zurich, announced the results of its rights offering further to the ordinary share capital increase approved by the Annual General Meeting on 29 April 2016.

46,465,975 new shares were subscribed for by existing shareholders in the rights offering, and 1,700,000 new shares were purchased by investors in the international offering, resulting in a total amount of 48,165,975 new shares. Based on the offer price of CHF 6.12 per new share, EFG International raised gross proceeds of approximately CHF 295 million. The listing of the new registered shares became effective on 13 May 2016.

This transaction was part of the overall financing of the acquisition of BSI SA. Post-closing of the acquisition of BSI SA, EFG Bank European Financial Group SA (EFG Group) and BTG Pactual are expected to own a stake in EFG International of 44.4% and 30.0%, respectively.