Julius Baer’s subsidiary Artio Global Investors, the parent company of Artio Global Management, has started marketing its initial public offering in the US of 23,400,000 shares of its c
Julius Baer’s subsidiary Artio Global Investors, the parent company of Artio Global Management, has started marketing its initial public offering in the US of 23,400,000 shares of its class A common stock.
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 proposed offering is expected to price and be completed by 30 September 2009.
Artio intends to use the net proceeds from the offering to repurchase 21,000,000 shares of class C common stock from Julius Baer – equivalent to 50 per cent of Julius Baer’s total stake – and 1,200,000 shares of class A common stock from each of Richard Pell and Rudolph-Riad Younes.
The shares have been approved for listing on the New York Stock Exchange under the ticker symbol ART and will commence trading upon completion of marketing when the offering is priced.
Goldman Sachs is serving as sole global coordinator and bookrunner for the proposed offering. Merrill Lynch, Pierce, Fenner & Smith is acting as co-lead manager 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.
