IPO of the Kursaal Bern AG

Thomas Bähler, Beat Brechbühl, Kathrin Enderli, Philippe Frésard

The Kursaal Bern AG, 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. 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.

Kellerhals Carrard (Team: Beat Brechbühl, Thomas Bähler, Shayan Mirabi, Philippe Frésard, Kathrin Enderli), together with ZKB, assisted the company in the initial public offering in all corporate and capital market aspects.

For further details on the transaction, please refer to the press release.