The Bobst Group SA has decided to apply for a delisting of its shares from the Six Swiss Exchange, the country’s stock exchange, following JBF Finance’s offer on 21 October 2022 to acquire all publicly held shares of Bobst.
JBF Finance Switzerland is the largest shareholder of Bobst, a manufacturer of printing and converting machines for labels and packaging. Its shares are held by more than 60 shareholders who belong to families that have historically controlled Bobst.
Following the end of the tender offer of JBF for all publicly held shares of Bobst Group for CHF (Swiss franc) 78 per share on 21 October 2022, and the settlement of the offer on 4 November 2022, JBF now holds approx. 85.29% of Bobst Group’s shares.
Taking this result into account, the board of directors of Bobst Group decided to apply for a delisting of the Bobst Group shares from Six Swiss Exchange and to initiate the corresponding delisting procedure, the company said in a press release.
The board of directors of the Bobst Group has also decided to enable the trading of the Bobst Group shares via a Swiss over-the-counter (OTC) trading platform.
According to the Bobst, this offer will give the company the appropriate conditions to deploy a long-term strategy, to execute its digital transformation, and to maintain its strong Swiss industrial activities.
Bobst is a leading supplier of substrate processing, printing and converting equipment and services for the label, flexible packaging, folding carton and corrugated industries.
Founded in 1890 by Joseph Bobst in Lausanne, Switzerland, Bobst has a presence in more than 50 countries, runs 19 production facilities in 11 countries and employs more than 5 800 people around the world. The firm recorded a consolidated turnover of CHF (Swiss franc) 1.563 billion($1.65 billion) for the year ended December 31, 2021.