Julius Baer Holding’s subsidiary Artio Global Investors, the parent company of Artio Global Management, has launched marketing of its initial public offering of 23,400,000 shares of its Class A common stock in the US.
Reportedly, the underwriters have the option to purchase from the company up to an additional 3,510,000 shares of Class A common stock, on the same terms and conditions, to cover over-allotments, if any. The company intends to use the net proceeds from the offering to repurchase 21,000,000 shares of Class C common stock from Julius Baer Holding – equivalent to 50% of Julius Baer Holding’s total stake – and 1,200,000 shares of Class A common stock from each of Richard Pell and Rudolph-Riad Younes.
Goldman Sachs is serving as sole global coordinator and bookrunner for the proposed offering, Merrill Lynch, Pierce, Fenner & Smith Incorporated are acting as co-lead managers and Deutsche Bank Securities, UBS Securities and Keefe, Bruyette & Woods, are acting as co-managers for the offering.
Artio Global Investors is an asset management company that provides investment management services to institutional clients and, through its mutual funds, to retail clients.
