Banks pull over-allotment option on Epic
In the context of Epic Suisse's IPO, the underwriters have partially exercised the over-allotment option. The gross proceeds from the IPO thus increase to CHF 192 million, as announced by the real estate company.
According to an announcement by Epic Suisse, the Joint Global Coordinators have partially exercised the over-allotment option. It had been granted in the context of Epic's IPO at the offer price of CHF 68 per share.
The over-allotment shares will be issued from authorized capital as part of a capital increase expected to be completed on or around June 28, 2022, Epic further discloses. A total of 2.83 million shares have thus been placed at a price of CHF 68 per share, representing total gross proceeds of CHF 192 million, the real estate company added.
Founders and current shareholders Alrov Properties & Lodgings and the Greenbaum family have not sold any shares in the IPO, but remain fully invested. The major shareholders have also agreed to a lock-up period of twelve months after the first day of trading.
Credit Suisse and Zürcher Kantonalbank acted as Joint Global Coordinators and Joint Bookrunners of the IPO. Swiss Finance & Property was co-manager. (ah)
