The 80.4 million shares that were put on the market on 2nd July 2012 were snapped up within 15 minutes, going between a range of 245p and 255p.
Initially, Credit Suisse had a 25% stake in the asset manager Aberdeen, which is headed up by Martin Gilbert. The bank had acquired the position following the completion of Aberdeen’s acquisition of various Credit Suisse asset management businesses in June 2009.
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Shares in Aberdeen, which earlier this year entered the FTSE 100 index, ended the 2nd July’s session at 264.7p. Moreover the sale was met with strong demand from UK and institutional investors.
When Credit Suisse took on the shares on 1 July 2009 they were priced 127p each. Hence 2nd July’s close at 264p represents a gain of around 107% over the three years.
Further, Aberdeen’s share price has also risen by around 77% over two years, and at its most recent half-year report to investors, unveiled on 30 April, Gilbert told shareholders that the company’s revenue had climbed 7% to GBP413.1 million, while its underlying profit before tax had reached GBP162.2 million, representing a gain of 14%.
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