Swiss Finance & Property AG arranges CHF 135m rights offering of Orascom Development Holding AG

Niederer Kraft Frey advised Swiss Finance & Property AG as sole lead manager and Helvetische Bank as settlement agent in Orascom’s successful capital increase by way of a rights offering launched on 14 April 2023. 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 has issued 19,228,617 registered shares with a par value of CHF 5.00 each, leading to gross proceeds in an amount of approximately CHF 135 million. The cash proceeds from the offering will be used to finance current development projects in Oman, Montenegro and the United Kingdom and for general corporate purposes. The newly issued registered shares are listed and traded on SIX Swiss Exchange.

The NKF team was co-led by partners Deirdre Ní Annracháin and Philip Spoerlé, working with partner Andrea Giger and associate Benedikt Hadorn (all Capital Markets), as well as partner Markus Kronauer (Tax).

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