First Watches of Switzerland block prices well

Watches_of_Switzerland_PA_230X150
By Aidan Gregory
10 Jan 2020

US private equity group Apollo Global Management has completed the first selldown of stock in Watches of Switzerland, the UK luxury watches retailer, since its flotation on the London Stock Exchange in May last year.

Apollo sold 33m shares, a 12.5% stake, via an accelerated bookbuild on Thursday evening led by Barclays and Goldman Sachs , Watches of Switzerland’s corporate brokers, and two of its IPO banks. Rothschild was adviser to Apollo.

The sale, which was wall crossed, was covered in half an ...

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