Straumann Group generates CHF 260 million cash from sale of treasury shares to finance strategic acquisitions/investments
- Accelerated book-building offering successfully completed, reflecting strong demand for shares
- Group retains financial flexibility to further invest in growth initiatives
Basel, 6 September 2017 – The Straumann Group announced today that it has sold 432 665 of its treasury shares (representing 2.7% of the Group’s share capital) through an accelerated book-building placement. The shares were broadly placed with institutional investors at a price of CHF 600 per share. The Group acquired the shares at the end of August 2016 for CHF 376.20 per share.
The Group is using the (gross) proceeds of CHF 260 million to finance the strategic acquisitions/investments announced recently in the fields of orthodontics (ClearCorrect) and digital dentistry (Dental Wings, Rapid Shape).
Peter Hackel, Chief Financial Officer , explained: “Since purchasing the shares, we have generated significant additional value for shareholders, which is reflected in the share price increase of 60%. We were able to benefit directly from this and have sold the shares to further invest in fast-growing operational businesses that will contribute to our long-term success.”
The Straumann Group (SIX: STMN) is a global leader in tooth replacement and orthodontic solutions that restore smiles and confidence. It unites global and international brands that stand for excellence, innovation and quality in replacement, corrective and digital dentistry, including Straumann, Instradent, Neodent, Medentika, etkon, ClearCorrect, Dental Wings, and other fully/partly owned companies and partners.
In collaboration with leading clinics, institutes and universities, the Group researches, develops, manufactures and supplies dental implants, instruments, CADCAM prosthetics, biomaterials and digital solutions for use in tooth replacement and restoration or to prevent tooth loss.
Headquartered in Basel, Switzerland, the Group currently employs approx. 4200 people (excl. Dental Wings and ClearCorrect) worldwide and its products, solutions and services are available in more than 100 countries through a broad network of distribution subsidiaries and partners.