Rieter Finalises Capital Plan Ahead Of Barmag Acquisition
Rieter Holding Ltd., has laid out the final details of its capital measures as shareholders gather for the company’s Extraordinary General Meeting (EGM). The moves are aimed at raising funds for the acquisition of OC Oerlikon’s Barmag division, a deal expected to close by the end of 2025, subject to regulatory approval.
The Swiss textile machinery maker will raise about CHF 477 million in two tranches, CHF 400 million via a rights issue and CHF 77.4 million through a private placement. The company’s largest shareholders, Peter Spuhler (PCS Holding, ~33%) and Martin Haefner (BigPoint Holding, ~10%), have committed to take part in both tranches, ensuring stability and continued support.
Under the rights issue, Rieter plans to issue 116.8 million new shares at CHF 3.43 apiece, raising its share capital to CHF 1.21 million. In the private placement, an additional 14.6 million shares will be issued at CHF 5.31, lifting total share capital to CHF 1.36 million. The board also proposed reintroducing a “capital band” between CHF 1.29 million and CHF 1.50 million, granting flexibility for future issuances or reductions until 2030.
Shareholders on record as of September 22 will receive one subscription right per share, with the option to buy 25 new shares for each right. Rights trading on the SIX Swiss Exchange runs from September 23 to 29, with the subscription period ending October 1. UBS is underwriting the rights issue.
The new shares are expected to begin trading on October 2, with settlement and delivery on October 6.
The capital increase comes as Rieter seeks to expand its global footprint with the strategic Barmag acquisition, strengthening its position in filament spinning solutions.
Key Dates:
- Sept 18: Extraordinary General Meeting & prospectus release
- Sept 22: Record date for subscription rights
- Sept 23–29: Rights trading period
- Oct 1: End of subscription
- Oct 2: First trading day of new shares
- Oct 6: Settlement and delivery
