The proposed offering is expected to price and be completed by 30 September, 2009
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.