Galenica Sante IPO Raised 1.9 B Francs, Vivendi Settles U.S. Litigation

Sarla Buch
07 Apr, 2017
New York City

BillerudKorsnas estimate weak operating profit. Galenica Sante surged 9% and raised 1.9 billion francs in initial public offering. Lloyds Banking said it had set aside

[R]4:00 PM Frankfurt – BillerudKorsnas estimate weak operating profit. Galenica Sante surged 9% and raised 1.9 billion francs in initial public offering. Lloyds Banking said it had set aside £100 million to compensate the scheme’s victims at its HBOS branch in the U.K.[/R]

In London trading, FTSE 100 index jumped 26.66 or 0.4% to 7,329.86 and in Frankfurt the DAX index slipped 55.88 or 0.5% to 12,176.05.

In Paris, CAC 40 index fell 9.81 or 0.2% to 5,111.63.

For the week, FTSE 100 index rose 0.1%, the DAX index dropped 1.1% and the CAC 40 index slid 0.2%.

BillerudKorsnas AB declined 3.4% to 143.30 Swedish kronor after Sweden-based fiber-based packaging solutions provider estimated operating profit in the first quarter of about 550 million kronor.

The packaging company said first-quarter result was negatively impacted by quality costs from production in the second half of 2016 and start-up costs in Rockhammar re-build late 2016.

Galenica Sante SA surged 9.1% to 42.55 Swiss francs and the Switzerland-based pharmaceuticals retailer raised 1.9 billion francs and priced its initial public offering at 39 francs per share. The issue was oversubscribed several times during the book-building period and the offering was Europe''s largest flotation so far in 2017.

At the annual general meeting of Galenica Group on May 11, shareholders will vote on name change of Galenica Group to Vifor Pharma Group and as of May 12, Galenica Sante will be renamed to Galenica.

Lloyds Banking Group Plc slipped 0.7% to 63.15 pence after the U.K.-based financial and banking services provider said today that it had set aside £100 million to compensate the scheme’s victims at its HBOS Reading branch by the its two former bankers employees.

The conclusion of the criminal trial conducted by the Financial Conduct Authority ruled that LBG had to compensate for economic losses, distress and inconvenience.

“We would like to express our deep regret and apologies to any customers directly affected by the criminal behavior of these individuals. We determined that victims of the crimes committed at HBOS Reading are appropriately compensated.” chief executive, Antonio Horta-Osorio, said

Vivendi SA fell 0.5% to €17.99 after France-based media and content provider agreed to pay $26.4 million to end litigation initiated in the United States in 2002 that accused misleading shareholders on finances in connection with $46 billion three-way merger.