The von Finck family reduced its stake in Swiss inspections group SGS, placing a 12.7% stake via an accelerated bookbuilding process, it said on Monday.
The shares were priced at 2,425 Swiss francs each, below the closing price at 2,727.
The placement worth about 2.3 billion Swiss francs ($2.4 billion) – through sole bookrunner Credit Suisse – will leave the family a stake of about 3%.
The sale comes after a review of its long-term investment strategy. The family said it has no plans at this stage to reduce its stake further.
Source: Reuters.com