Secondary blocks market reopens with big Swiss trades

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By Sam Kerr
04 Aug 2020

European equity capital markets investors had a big night of secondary blocks to look at on Monday, with two large Swiss trades which totalled around Sfr1bn ($1.09bn) of volume combined. The transactions showed that there is still a market for block trades in large, liquid stocks with recent ECM pedigree.

The larger of the two deals was a Sfr525m trade in SGS, the Swiss testing laboratories company. The other was a Sfr496m sale of SIG Combibloc shares, the Swiss food and beverage packaging company.

Both deals were comfortably covered in excess of the deal size. The SIG ...

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