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Pin to quick picksWatches Switz Share News (WOSG)

Share Price Information for Watches Switz (WOSG)

London Stock Exchange
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Share Price: 422.20
Bid: 420.40
Ask: 422.80
Change: -1.60 (-0.38%)
Spread: 2.40 (0.571%)
Open: 423.00
High: 432.20
Low: 422.20
Prev. Close: 423.80
WOSG Live PriceLast checked at -

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Jewel Holdco Looks To Offload 12% Of Watches of Switzerland Stake

Mon, 14th Sep 2020 17:48

(Alliance News) - Barclays Bank noted Monday that Jewel Holdco Sarl is planning to sell about 27.5 million shares in Watches of Switzerland PLC by way of an accelerated bookbuild to institutional investors.

The sale will represent about 11.5% of Watches of Switzerland's issued share capital.

The placing price is still to be determined. Shares in Watches of Switzerland closed 3.9% higher in London on Monday at 334.00 pence each.

Jewel Holdco, a company owned and controlled by AIF VII Euro Holdings LP, an affiliate of investment funds managed by an affiliate of Apollo Global Management LLC, currently owns 100.7 million shares in Watches of Switzerland - which represents a 42.1% stake.

Following the secondary placing, Jewel Holdco will own about 73.2 million shares, or 30.6%, of Watches of Switzerland.

Barclays Bank is acting as sole global coordinator in connection with the placing.

By Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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