May 11, 2016 / 5:41 AM / 2 years ago

EFG prices public offering at 6.12 Sfr per share, BTG to hold 30 pct stake

ZURICH, May 11 (Reuters) - EFG International priced a public offering for remaining new shares at 6.12 Swiss francs per share, the bank said on Wednesday, part of efforts to fund a 1.33 billion franc ($1.4 billion) purchase of Swiss peer BSI.

Shares in EFG closed at 5.86 francs on Tuesday.

In a previous ordinary share capital increase, 59.6 percent of the roughly 81 million newly issued shares were taken up by existing shareholders, the bulk of which by the investment vehicle owned by Greece’s wealthy Latsis family for 271 million francs. It is the bank’s biggest shareholder.

Gross proceeds from the capital increase amounted to 295 million francs.

The remaining shares are now being offered in a rights offering and an international offering.

As part of the deal to buy BSI from Brazil’s Grupo BTG Pactual SA, EFG had said BTG would take a 20-30 percent stake in EFG. It now expects BTG to hold a 30 percent stake in the Zurich-based bank.

$1 = 0.9739 Swiss francs Reporting by Joshua Franklin; Editing by Michael Shields

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