Kellerhals Carrard advises the Kursaal Bern in their IPO launch

The Kursaal Bern, a traditional Swiss company with the three business segments congress center, hotel & gastronomy and casino, successfully launched the first initial public offering since the outbreak of the pandemic on the BX Swiss on June 29, 2021.

Kellerhals Carrard along with ZKB assisted Kursaal Bern in all corporate and capital market aspects of the IPO. Kellerhals Carrard team comprised of Beat Brechbühl (pictured), Thomas Bähler, Shayan Mirabi, Philippe Frésard, Kathrin Enderli.

The simultaneous increase of share capital, strengthened the equity capitalization for the forward strategy, in particular to promote the Swissôtel Kursaal and Bern as an event and congress location. The vast majority of the approximately 1900 shareholders exercised their subscription rights, including well-known anchor shareholders such as Hansjörg Wyss and Willy Michel. This, together with strong investor demand, resulted in a successful, substantially oversubscribed offering and a valuation of the company of approximately CHF 50 million.