Leading global law firm Baker McKenzie has advised SIX Swiss Exchange-listed Swiss luxury goods producer Lalique Group SA on its issue and listing of 1,200,000 registered shares at a price of CHF 40 per share, leading to gross proceeds of CHF 48 million. The capital increase was structured as a rights issue with the existing shareholders being granted subscription rights, entitling them to purchase one new share at a subscription price of CHF 40 for every five shares held. To increase the current free float and to broaden the investor base, Silvio Denz as majority shareholder of the company did only partially participate in the offering. The listing and first day of trading of the new shares on SIX Swiss Exchange took place on 12 July 2019.
Prior to the capital increase, Baker McKenzie advised Lalique Group in connection with the sale of 320,000 shares by Silvio Denz to Dharampal Satyapal Limited (DS Group), a diversified conglomerate with headquarters in India. In addition, DS Group agreed to subscribe for a total of up to 564,000 new shares in the offering.
Baker McKenzie acted as global lead counsel in this transaction and provided comprehensive legal advice to Lalique Group with regard to all legal and tax aspects related to the capital increase and the separate transactions entered into by the company and its majority shareholder with DS Group.
The Baker McKenzie team comprised Martin Frey, Matthias Courvoisier, Philip Spoerlé, Susanne Liebel-Kotz and Manuel Hirlinger.