Leonteq announces results of its rights offering

Leonteq AG (SIX:LEON), the Zurich-based independent technology and service partner for investment solutions, today announced that as a result of its rights offering, a total of 1,296,295 new Leonteq registered shares have been issued and will start trading on the SIX Swiss Exchange tomorrow. By the end of the subscription period, 99.6% of the new registered shares offered had been validly subscribed for. Leonteq will raise net proceeds of approximately CHF 173.1 million from the issue of the new shares.

In the fully underwritten rights offering announced on 24 July 2014, a total of 1,296,295 new registered shares with a nominal value of CHF 2.00 each from existing authorized capital were offered to eligible Leonteq shareholders at an issue price of CHF 140.25 per new share. By the end of the subscription period on 7 August 2014, 12.00 noon CEST, subscription rights for 1,291,416 new registered shares had been validly exercised, representing 99.6% of the new registered shares offered. The 4,879 registered shares for which the subscription rights were not exercised are planned to be sold in the market.

The new registered shares will start trading tomorrow. Delivery of the new registered shares against payment of the subscription price is expected to occur on 12 August 2014.

Leonteq will obtain net proceeds of approximately CHF 173.1 million from the issue of the new shares. It intends to use the proceeds primarily to support its growth strategy, including the increase of its capacity to onboard new whitelabeling partners, the expansion of its regional offices, in particular in Asia and in Europe, and the support of new initiatives such as “smart data”. Including the net proceeds, Leonteq’s pro forma BIS total capital ratio (CET1, Basel III fully applied) would have amounted to 34.5% as per 30 June 2014, versus 17.4% prior to the offering.

The issued share capital of Leonteq now consists of 7,962,960 registered shares, corresponding to CHF 15,925,920. Leonteq’s founding partners now hold 21.5% and Notenstein Private Bank (incl. affiliates) holds 26.6% in the company.

Leonteq, its founding partners and Notenstein Private Bank (incl. affiliates) have agreed to a lock-up of 180 days, subject to usual exemptions. The lock-up agreements entered into by the founding partners, management and employees of Leonteq at the time of its IPO will remain in place.