IPO of Glarner Kantonalbank
24 juin 2014 – On 24 June 2014, Glarner Kantonalbank listed its shares on the SIX Swiss Exchange. In connection with the IPO, the majority shareholder, the Canton of Glarus, publicly sold a stake of approx. 30% in the company stemming from newly issued shares. The IPO issue price was set at CHF 17.50 per share. The market capitalisation of Glarner Kantonalbank amounts to approx. CHF 200 mio. Zürcher Kantonalbank acts as Lead Manager in connection with the IPO.
Walder Wyss AG has advised the issuer Glarner Kantonalbank in this transaction. The team has been led by Alex Nikitine (Managing Associate, Capital Markets, Corporate/M&A) and Markus Pfenninger (Partner, Banking Finance) and further included Sarah Schulthess (Associate, Capital Markets, Corporate/M&A), Dominik Hohler (Associate, Corporate/M&A), Fabienne Claudon (Associate, Corporate/M&A), Thomas Meister (Partner, Tax), Janine Corti (Associate, Tax), Simone Dobler (IP/IT) and Andreas Baeckert (Trainee, Banking Finance).
Within a few months, Walder Wyss AG was advising on two IPOs as counsel to the issuer (Cembra Money Bank, 2013; Glarner Kantonalbank, 2014).