GBL launches offering to sell around 4.5% of SGS stock

Bureau Veritas SA

05/03/2025 18:01

ZURICH, March 5 (Reuters) - Serena S.A R.L , a unit of Belgian holding company Groupe Bruxelles Lambert, has launched a public offering of some 8.5 million shares in Swiss testing company SGS SGSN.S in an accelerated bookbuilt offering, according to a bookrunner.

According to the terms of the offering, seen by Reuters on Wednesday, Serena is putting up the stock at 87.65 Swiss francs per share, or a 5.75% discount to the market price.

The offering represents around 4.5% of the share capital of SGS and if fully taken up could raise up to 745 million Swiss francs ($836.23 million), according to the figures.

It comes just a few weeks after SGS ended talks over a potential $30 billion merger with French rival Bureau Veritas after the two sides failed to reach agreement.

($1 = 0.8909 Swiss francs)

 (Writing by Dave Graham, editing by John Revill)

 ((dave.graham@thomsonreuters.com; Reuters Messaging: dave.graham.thomsonreuters.com@reuters.net))