SIG successfully raised approximately EUR 204 million through the placement of 11 million new shares at a price of CHF 19.40 per new share.
The capital increase generated gross proceeds of CHF 213’400’000. SIG intends to use the net proceeds from the capital increase to fund, in part, the acquisitions of Scholle IPN and Evergreen Asia, which were announced on 1 February 2022 and 5 January 2022, respectively. The remaining part of the consideration will be financed through a mix of cash and debt. For further information on these transactions, please click here and here.
Samuel Sigrist, CEO of SIG, said, “I would like to say thank you to the existing and new SIG shareholders who made today’s capital increase a success. The acquisition of Scholle IPN will allow SIG to strengthen its position as a global player in innovative and sustainable packaging for liquid food and beverages. The acquisition of Evergreen Asia will provide focused access to the attractive and fast-growing market for fresh dairy products in Asia, especially China. Today’s transaction strengthens the well-balanced capital structure of SIG as it continues its established track record of reducing leverage with its strong and resilient cashflows.”
SIG’s share capital will increase from CHF 3’375’208.72 to CHF 3’485’208.72 by issuing 11’000’000 registered shares each with a par value of CHF 0.01 against cash contributions, making use of the existing authorised share capital pursuant to article 6 of the Company’s Articles of Association.
The new shares carry full dividend rights for the fiscal year 2022 beginning on 1 January 2022.
The new shares are expected to be listed and admitted to trading on SIX Swiss Exchange on 19 May 2022. SIG has agreed to a lock-up period of 90 days from the Settlement Date, subject to customary exceptions.
UBS and Goldman Sachs are acting as Joint Global Coordinators and Octavian as Selling Agent in the context of the capital increase.