Deals & Cases

Homburger advised on the rights offering of Luzerner Kantonalbank AG raising gross proceeds of CHF 489 m

On May 26, 2023, Luzerner Kantonalbank AG (SIX: LUKN) announced that it had successfully closed its rights offering, raising gross proceeds of CHF 489 m. As part of the transaction, existing shareholders of Luzerner Kantonalbank were offered rights to subscribe for new shares at an offer price of CHF 69.00 per new share. New shares in respect of which subscription rights had not been exercised were placed in a rump placement. Zürcher Kantonalbank acted as global coordinator and joint-lead manager.

With the net proceeds from the offering, Luzerner Kantonalbank primarily intends to lay the foundation for the successful further development of its business model, to achieve sustainable growth and at the same time secure long-term flexibility in the context of increasing capital requirements.

Homburger AG acted as transaction counsel to Luzerner Kantonalbank and Zürcher Kantonalbank. The Homburger team included Andreas Müller (Corporate / M&A, Capital Markets), Benjamin Leisinger (Financial Market Regulation, Capital Markets), Lorenzo Togni, Jasmin Künzle and Florian Gasche (all Corporate / M&A, Capital Markets) and Sofiya Shavlak (Financial Market Regulation, Capital Markets). Stefan Oesterhelt provided tax advice.