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 was published on 13 June 2023. The offer is subject to a minimum acceptance ratio of 66⅔%. Completion is subject to customary regulatory approvals.

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.

In July 2023, Santhera Pharmaceuticals Holding AG (SIX: SANN) completed a 10:1 reverse split of its shares, which had been approved by the shareholders on June 27, 2023, with the listing and first day of trading of the post-split shares on the SIX Swiss Exchange.

In July 2023, Zhejiang Huayou Cobalt, whose A Shares are listed on Shanghai Stock Exchange, sold 50,000,000 GDRs representing two A-Shares each at an offer price of USD 11.65, raising gross proceeds of approximately USD 582.5 million from the offering. Trading in the GDRs on SIX Swiss Exchange commenced on 7 July 2023.

On 6 March 2023, Sika AG placed bonds in a total amount of CHF 650 million, consisting of three tranches.

In March 2023, Bachem Holding successfully placed newly issued shares raising gross proceeds of approximately CHF 108 million by way of an accelerated bookbuilding.

On 14 March 2023, Nestlé Holdings, Inc. successfully completed its issuance of USD 1 billion 5.250% Notes due 2026, USD 850 million 5.000% Notes due 2028, USD 500 million 4.950% Notes due 2030, and USD 650 million 4.850% Notes due 2033. The Notes are guaranteed by the Nestlé group’s Swiss parent company Nestlé S.A.

On March 19, 2023, Credit Suisse announced that Credit Suisse Group AG and UBS Group AG have entered into a merger agreement following the intervention of the Swiss Federal Department of Finance, the Swiss National Bank and the Swiss Financial Market Supervisory Authority FINMA. UBS Group AG will be the surviving entity upon closing of the merger transaction, which is subject to customary conditions.  The combined market capitalization is approximately USD 65 billion. In a unique step, the Swiss Federal Council has issued an emergency ordinance (Notverordnung), based on which the merger does not require approval of the shareholders’ meetings of the two companies and certain other requirements under the Swiss Merger Act do not apply.