DKSH Shareholders Sell Stake Valued at $333 Million, Terms Show
Stock Chart for DKSH Holding AG (DKSH)
DKSH Holding AG (DKSH), which advises and helps businesses grow in Asia, is selling 4 million shares, valuing the stake at about 314 million Swiss francs ($333 million), according to terms obtained by Bloomberg News.
The deal size was raised to 4 million shares from 2.5 million today, the terms show. The sale values the stake at 314 million francs based on a price of 78.5 francs a share, and orders below that price won’t be considered. DKSH shares fell 4 percent to 79.15 francs at 11:50 am in Zurich, where the company is based.
UBS AG and Credit Suisse Group AG (CSGN) are managing the sale. The shares were initially offered in a range of 78 Swiss francs to market price, terms from yesterday show.
“Certain strategic investors” and DKSH management are selling stakes as part of the transaction, according to terms.
Secondary share sales including block deals in Europe, the Middle East and Africa have raised $31 billion this year, an increase of about 60 percent from the same period in 2012, according to data compiled by Bloomberg.
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