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.

In April 2023, Zheijan Supcon Technology, whose A Shares are listed on Shanghai Stock Exchange, sold 20,958,000 GDRs representing two A Shares each at an offer price of USD 26.94, raising gross proceeds of approximately USD 564.6 million from the offering. Trading in the GDRs on SIX Swiss Exchange commenced on 17 April 2023.

In April 2023, Orascom Development Holding AG carried out a successful capital increase by way of a rights offering. The transaction consisted of an offering of subscription rights and a backstop commitment by the majority shareholder for shares for which subscription rights were not exercised. Orascom issued 19,228,617 registered shares in a total amount of approximately CHF 135 million.