trending Market Intelligence /marketintelligence/en/news-insights/trending/LbleBQMAPn15DNMY6PJkew2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

EFG reduces maximum size of capital increase to finance BSI acquisition

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity


EFG reduces maximum size of capital increase to finance BSI acquisition

EFGInternational AG's board of directors, at the company's April 29annual general meeting, reduced the maximum size of capital increase to financeits acquisition ofBSI SA by 12,002shares.

The reduction resulted in rights offering of up to81,687,345 newly issued registered shares. The size was reduced to offer newshares to existing shareholders at a ratio of 29 new shares for each 54existing shares held May 2.

The shares that will not be taken by the existingshareholders may be given out in a public offering in Switzerland and inprivate placements in certain jurisdictions outside Switzerland subject tosecurities laws.

At the same time, shareholders approved the creation of newauthorized share capital to issue up to 75,958,871 registered shares.

At the annual general meeting, John Williamson was appointedchairman for a one-year tenure replacing Niccolò Burki.Steve Jacobs, vice chairman of the board of directors of BSI and managingpartner at BTG PactualGroup, was elected to the board of directors, subject to approval.