Sandoz Group Lists Shares on SIX Swiss Exchange with CHF 10.3 Billion Market Capitalization

Sandoz Group Lists Shares on SIX Swiss Exchange with CHF 10.3 Billion Market Capitalization

(IN BRIEF) Sandoz Group AG, a Novartis spin-off, officially listed its shares at the SIX Swiss Exchange. With an opening share price of CHF 24.00, the market capitalization of Sandoz reached approximately CHF 10.3 billion. Sandoz’s issued share capital consists of 431 million registered shares, and a public offering was not conducted. As of today, Sandoz has been included in prominent Swiss indices like the Swiss Leader Index (SLI), Swiss Performance Index (SPI), and SXI Life Sciences Index, and it will join the SMI Mid Index (SMIM) on October 5, 2023. This listing follows Novartis’ shareholder approval in September 2023 for the 100% spin-off of Sandoz into an independent publicly traded company, enabling Sandoz to pursue its purpose-driven strategy in the generics and biosimilars industry.

(PRESS RELEASE) ZÜRICH, 5-Oct-2023 — /EuropaWire/ — The issued share capital of Sandoz (Ticker “SDZ”) comprises of 431’000’000 registered shares with a nominal value of CHF 0.05. A public offering of the company’s shares did not take place. As of today, Sandoz was admitted to the Swiss Leader Index (SLI), the Swiss Performance Index (SPI) and the SXI Life Sciences Index, and as of 5 October 2023, Sandoz will be admitted to the SMI Mid Index (SMIM).

In July 2023, Novartis announced its intention to seek shareholder approval for the 100% spin-off of the Sandoz business into an independent publicly traded company at SIX Swiss Exchange. On 15 September 2023, Novartis shareholders approved the proposed 100% spin-off of the Sandoz division to be implemented through the distribution of a dividend-in-kind, with Novartis shareholders and holders of Novartis American Depositary Receipts (ADRs) receiving one (1) Sandoz share for every five (5) Novartis shares, respectively one (1) Sandoz ADR for every five (5) Novartis ADRs held.

Sandoz CEO Richard Saynor says: “As an independent company, Sandoz will be fully enabled to deliver on its purpose-driven strategy, which targets sustainable leadership in the growing and critical generics and biosimilars industry. We already actively pioneer access for patients by shaping the global healthcare environment. And we intend to make an even greater impact going forward.”

Jos Dijsselhof, CEO SIX, highlights: “I am delighted to welcome Sandoz – another global company at our exchange which is a market leader in its industry. Today’s listing marks a major milestone in Sandoz’s long history and lays the foundation for the company to further realize its vision to become the world’s most valued generics company. I wish Sandoz every success as it continues its journey as an independent SIX listed company.”

About SIX
SIX operates and develops infrastructure services for the Swiss and Spanish Stock Exchanges, for Post-Trade Services, Banking Services and Financial Information with the aim of raising efficiency, quality and innovative capacity across the entire value chain of the Swiss and Spanish financial centers. The company is owned by its users (120 banks). With a workforce of 4,044 employees and a presence in 20 countries, it generated operating income of CHF 1.5 billion and Group net profit of CHF 185.0 million in 2022.
www.six-group.com

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SOURCE: SIX