Deals
EFG International Jumps Most in Three Years on Share-Sale Plan
- Parent company increases commitment to $524 million sale
- Capital increase to help finance purchase of private bank BSI
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EFG International AG jumped the most since January 2013 in Zurich trading after saying its parent company increased its commitment to a planned 500 million Swiss franc ($524 million) share sale to help finance its purchase of private bank BSI SA.
EFG climbed as much as 13 percent and was up about 12 percent at 5.82 francs as of 10:20 a.m. The bank plans to sell shares for at least 6.12 francs each, according to a statement on Thursday. EFG Bank European Financial Group SA, which owns a majority of the Swiss bank, will commit to buying 271 million francs of shares, more than double the amount previously stated.