ZURICH, April 26 (Reuters) - Lalique Group plans a capital increase and a listing on the SIX Swiss Exchange, the Swiss luxury goods company said on Thursday.
Lalique, whose shares now trade on the Bern exchange, intends to launch a rights issue for up to 1 million new shares to strengthen its balance sheet by converting shareholder loans into new shares.
“In the course of the capital increase, Lalique Group intends to pursue a listing of its shares on the SIX Swiss Exchange,” it added in a statement.
Subject to shareholder approval, existing shareholders will be able to get one new share for each five they hold. The offer price is 30 Swiss francs.
Silvio Denz, group chairman and majority shareholder with a stake of 72.04 percent, will convert loans worth 21.6 million francs into 720,400 new shares.
The capital increase is set to wrap up in June and raise gross proceeds of up to 8.4 million Swiss francs ($8.6 million).
Lalique Group operating revenue increased by 4 percent in 2017 to 128.8 million euros ($156.8 million), reflecting growth in both its beauty division and its crystal and interior design business.
Earnings before interest and taxes rose to 7.5 million euros. Including a positive tax effect of 1.9 million, net profit increased to 6.9 million from 1.0 million.
It proposed an unchanged dividend of 0.50 francs per share. ($1 = 0.9829 Swiss francs) ($1 = 0.8216 euros) (Reporting by Michael Shields; editing by Jason Neely)