GE Money Bank completes $1bn Swiss listing
Swiss consumer finance firm GE Money Bank completed a Sfr918m ($1bn) IPO on Wednesday, which will see the firm change its name to Cembra Money Bank shortly after GE Capital sold another of its financial institutions holdings.
GE Capital, which owned all of the company before the deal, sold 18m shares, representing 60% of the firm, for Sfr51 each. That was the top of the Sfr43-Sfr51 range, and valued the company at Sfr1.5bn.
There will also be a greenshoe for 14% of the deal size, which
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