On 13 April 2026, the shareholders of HT5 AG, a company with shares listed on SIX Swiss Exchange, and Centiel SA approved their merger, creating a listed Swiss technology company active in the uninterruptible power supply (UPS) sector. Trading in the shares of the merged company under the name Centiel AG and the ticker CNTL started on 17 April 2026.
The transaction was implemented by way of a statutory absorption merger under the Swiss Merger Act, with the previously listed HT5 AG as the surviving entity. In connection with the merger, HT5 AG issued 61,274,508 new registered shares to the shareholders of Centiel SA.
Simultaneously with the merger, HT5 AG carried out an ordinary cash capital increase through the issuance of 3,885,763 registered shares and a placement of 11,501,225 secondary shares sold by Centiel‘s founding shareholders. In total, 15,386,988 shares were placed at an offer price of CHF 2.04 per share.
The merger follows the comprehensive restructuring of the former Hochdorf Holding AG, a company with a history of over 130 years. Hochdorf Holding AG had entered into a definitive debt restructuring moratorium and was initially expected to be liquidated after repayment of a fraction of its outstanding hybrid bond. In 2025, a group of investors took control of the company with the approval of the shareholders‘ meeting and initiated a restructuring. The restructuring included a repurchase offer and conversion of the CHF 125 million hybrid bond, a significant reduction of the nominal share capital, and the release from the debt restructuring moratorium. Following the restructuring, the company was renamed HT5 AG. After the merger with Centiel SA, the HT5 AG‘s registered office was relocated from Hochdorf to Lugano, the corporate purpose was amended, and the company name was changed to Centiel AG.