Swiss investor, EGS Beteiligungen, has increased its stake in Swiss CDMO Siegfried from 5% to around 6.2% following the exercise of its right to convert one of Siegfried’s convertible bonds issued in December 2020 with a coupon of 0.65% and a nominal value of CHF40m (US$45m) into shares of Siegfried.
The investor will receive 51,899 shares of Siegfried Holding from Siegfried’s treasury shares. There will be no new shares issued.
In December 2020, EGS Beteiligungen participated in the financing of Siegfried’s acquisition of two pharmaceutical production sites in Spain through two hybrid convertible bonds issued by Siegfried.
“This conversion significantly increases the shareholding of EGS Beteiligungen and demonstrates its trust in Siegfried,” said Siegfried’s interim CEO Reto Suter.