News, Deals & Cases

On 18 July 2023, NewGAMe SA announced the launch of its partial cash tender offer for up to 28,000,000 shares of SIX-listed GAM Holding AG. NewGAMe SA is part of the NewGAMe-Bruellan investor group that holds a substantial stake in GAM. NewGAMe is majority held by Rock Investment, a company controlled by Mr. Xavier Niel….

In June 2023, DSM-Firmenich successfully placed shares by way of an accelerated bookbuilding raising gross proceeds of approx. EUR 733 million. The proceeds will be used for the buy-out of shares not tendered in the exchange offer to DSM shareholders. Goldman Sachs, ABN AMRO and J.P. Morgan acted as joint global coordinators in this transaction.

In June 2023, Swiss Prime Site issued convertible loan notes in the aggregate amount of CHF 275 million to ELM B.V., a repackaging vehicle. ELM in turn issued exchangeable notes, which were placed with investors and are exchangeable into shares of Swiss Prime Site. The use of the repackaging vehicle allows Swiss Prime Site to…

In May, 2023, Meyer Burger Technology AG (SIX: MBTN) (Meyer Burger) successfully issued green senior unsecured guaranteed convertible bonds due 2029 in the aggregate amount of EUR 216.3 m. The bonds were placed in a private placement with a coupon of 3.75% per annum. The bonds are issued by Meyer Burger’s subsidiary MBT Systems GmbH…

In May 2023, Luzerner Kantonalbank AG (SIX: LUKN) announced that it had successfully closed its rights offering, raising gross proceeds of CHF 489 million. As part of the transaction, existing shareholders of Luzerner Kantonalbank were offered rights to subscribe for new shares at an offer price of CHF 69.00 per new share. New shares in…

In May 2023, GAM Holding AG announced that it had entered into an agreement with Liontrust Asset Management plc relating to the launch by of a public exchange offer for all publicly held shares in GAM at a consideration of 0.0589 Liontrust shares per share of GAM Holding AG. The prospectus for the exchange offer…

In May 2023, Ironwood Pharmaceuticals, Inc. (Nasdaq: IRWD) and VectivBio Holding AG (Nasdaq: VECT) announced that they had entered into an agreement for Ironwood Pharmaceuticals to launch an all-cash public tender offer to acquire all outstanding shares in VectivBio Holding AG for USD 17.00 per share. The offer was successfully completed on 29 June 2023.

In May 2023, UBS AG, acting through its London branch, successfully completed its issuance of (i) CHF 310 million aggregate principal amount of 2.385 per cent. Notes due 2025, and (ii) CHF 150 million aggregate principal amount of 2.550 per cent. Notes due 2029, in each case under its Euro Note Programme.

In June 2023, Kunshan Dongwei Technology Co., Ltd. whose A Shares are listed on Shanghai Stock Exchange, sold 5,888,000 GDRs representing two A-Shares each at an offer price of USD 17.80, raising gross proceeds of approximately USD 105.0 million from the offering. Trading in the GDRs on SIX Swiss Exchange commenced on 13 June 2023.