EFG Financial Products Holding AG (FPHN), the Zurich-based integrated structured investment service provider which commenced trading on the SIX Swiss Exchange on 19 October 2012, today announced that the underwriters’ over-allotment option granted by EFG International has now been fully exercised at the offering price of CHF 45. The free-fl oat of EFG Financial Products thus amounts to 48.5%.
In the IPO of EFG Financial Products Holding AG, 1,666,665 new registered shares were issued, and 1,270,472 existing registered shares were sold by EFG International in the base offering. In addition, as announced today by the global co-ordinator and bookrunner, the overallotment option granted by EFG International of up to 293,713 existing registered shares has now been fully exercised. Including the over-allotment, the IPO comprised a total of 3,230,850 registered shares at the offering price of CHF 45, corresponding to a transaction value of circa CHF 145 million.
EFG International, which now holds 20.3% in EFG Financial Products, has agreed to a lock-up which ends twelve months after the fi rst trading day. The founding partners of EFG Financial Products, who hold 25.3% of the company, have agreed to a lock-up of fi ve years (with a phased release from the end of year three). The shareholder employees of EFG Financial Products, who hold 5.9% of the company, have agreed to a lock-up of three years (with a phased release from the end of year one). The free-fl oat of EFG Financial Products, which excludes the shares held by EFG International, the founding partners and the shareholder employees, thus amounts to 48.5%.
Credit Suisse acted as global coordinator and bookrunner of the IPO. Bank Vontobel AG and Crédit Agricole CIB acted as co-lead managers. Rothschild acted as fi nancial advisor to EFG International and EFG Financial Products.