SIG launches IPO on SIX Swiss Exchange
Niederer Kraft Frey advised BofA Merrill Lynch, Credit Suisse, Goldman Sachs and the other members of the offering syndicate in connection with SIG’s initial public offering on SIX Swiss Exchange that launched today. SIG is a leading provider of aseptic carton packaging solutions for the food and beverage industry.
The IPO of SIG consists of up to 112,870,000 new shares, 27,000,000 existing shares, and an over-allotment option of up to 20,980,500 existing shares from the current shareholders of SIG. The price range for the offered shares has been set at CHF 10.50 to CHF 13.50 per share, implying an offer size of approximately CHF 1,469 million to CHF 1,550 million (making it the largest IPO in Switzerland to date in 2018) and a total market capitalisation of approximately CHF 3.4 billion to CHF 4.1 billion. Credit Suisse, BofA Merrill Lynch and Goldman Sachs act as Joint Global Coordinators and Joint Bookrunners. Barclays, Citigroup, Morgan Stanley and UBS Investment Bank act as Joint Bookrunners. The syndicate also includes UniCredit Bank and Vontobel as Co-Lead Managers. Rothschild & Co. acts as independent financial advisor to SIG.
The NKF team was led by Capital Markets partners Philippe Weber and Till Spillmann, working with senior associate Andrea Giger and associate Deirdre Ni Annrachain.