Alibaba Group To Own Stake Of 6.1% In Dufry - Quick Facts

(RTTNews) - Dufry AG (DFRYF.PK) said it has successfully concluded the rights offering. Immediately following the closing of the offering, Advent International will own a stake of 11.4% in Dufry and Alibaba Group of 6.1%. Based on the offer price of 33.22 francs per new share, Dufry expects gross proceeds of 820 million Swiss francs.

Dufry AG said all 24,696,516 offered shares were sold in the offering. 10,612,024 new shares were subscribed by existing shareholders as part of the rights offering, 9,178,033 new shares have been allocated to Advent International and 4,906,459 new shares have been allocated to Alibaba Group. The new shares are anticipated to be listed and eligible for trading on SIX Swiss Exchange as of October 22, 2020.

Also, concurrently with the rights offering, Dufry and Alibaba Group have agreed a term sheet under which Alibaba shall invest 69.5 million Swiss francs in Dufry via mandatory convertible notes.

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