The participiation certificates of Thurgauer Kantonalbank traded today for the first time under the “Domestic Standard” of SIX Swiss Exchange, opening at CHF 76.00. This corresponds to a stock market capitalization of CHF 165.3 million (excluding over-allotment option).
The offering comprised 2,175,000 participation certificates issued in the name of the respective holders with a nominal value of CHF 20.00. These participation certificates have been previsouly owned by the Canton of Thurgau. Furthermore, the Canton has granted the lead manager Zürcher Kantonalbank an over-allotment of up to 325’000 additional participation certificates which can be exercised within 30 days after the first day of trading. The gross proceeds of the transaction goes to the Canton of Thurgau which continues to be the main shareholder of Thurgauer Kantonalbank.
With over 700 employees and total assets of over 18 billion Swiss francs, the Thurgauer Kantonalbank (TKB) belongs to the twenty largest banks in Switzerland. As the most important financial institution in Thurgau, it offers comprehensive financial services for private individuals, companies, corporates and the public sector. TKB seizes its statutory mandate to support a strong economy in a responsible manner. Its business policy revolves around customer focus, a range of products based on client needs, expert advice and personal service. TKB is one of the largest employers in the canton. It invests in the education and training of its employees as well as its over 50 apprentices. On a social, cultural and recreational level, the bank actively backs and encourages a widely diversified canton. Acting as a sponsor and cultural patron, it supports a variety of events and projects by assuming the role of an organizer of information sessions as well as economic and cultural events. The main owner of TKB, founded in 1871, is the Canton of Thurgau.