Julius Baer is to increase its capital as part of consideration for the International Wealth Management (IWM) business it acquired from Bank of America (BofA) Merrill Lynch in August 2012.
The company’s board of directors has approved capital increase from its authorised share capital, issuing 7,102,407 registered shares, seeing its share capital rise by CHF142,048.14, which is expected to take place on 24 January 2013.
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These newly issued shares will be used exclusively as part of the consideration for the acquisition of the IWM business, which will begin to integrate into Julius Baer’s operations from February 2013.
The company had previously diluted its shareholding in October 2012 to raise capital for the acquisition, with a total of 20,316,285 new registered shares issued at an issue price of CHF24.20 per share.
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