SCHMOLZ + BICKENBACH AG launches its rights offering

Niederer Kraft Frey acts as legal adviser to UBS AG and Credit Suisse AG in SCHMOLZ + BICKENBACH’s rights offering that launched on 10 December 2019. On 2 December 2019, the extraordinary shareholders’ meeting of SCHMOLZ + BICKENBACH approved a capital increase of at least CHF 325 million through the issuance of up to 2,953,125,000 new registered shares, and a simultaneous reduction of the nominal value of the existing registered shares from CHF 0.50 per share to the level of the offer price, which is expected to be one of CHF 0.20, CHF 0.25 or CHF 0.30 per new share. The gross proceeds from the capital increase are envisaged to be at least CHF 325 million. The listing and first day of trading of the new registered shares on SIX Swiss Exchange are expected to take place on 9 January 2020.

SCHMOLZ + BICKENBACH, with more than 10,000 employees and its own production and distribution companies in 30 countries on 5 continents, is one of the world’s leading providers of individual solutions in the special long steel products sector.

The NKF team is led by partner Philippe Weber working with partner Thomas Brönnimann and counsel Christina Del Vecchio (all Capital Markets).