Schmolz + Bickenbach begins emergency recapitalisation

steel fotolia px230x150 for gc
By Aidan Gregory
11 Dec 2019

Struggling Swiss steelmaker Schmolz + Bickenbach has launched an emergency rights issue after the Swiss market regulator FINMA approved it on Monday.

UBS and Credit Suisse are global coordinators on the rights offer, which will raise at least Sfr189 but not more than Sfr350m.

The recapitalisation is intended to secure the company’s future after a prolonged period of underperformance. 

Schmolz + Bickenbach has been hit by problems including a ...

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