Allen & Overy LLP has advised the banking syndicate led by Credit Suisse AG (acting as Global Coordinator ) on the successful IPO of Cembra Money Bank AG , formerly GE Money Bank AG, one of the leading consumer credit banks in Switzerland , on the SIX Swiss Exchange AG . It is the sixth-largest IPO in the EMEA Economic Area this year and the second largest IPO of a bank since the start of the 2008 financial crisis. In Switzerland it is the largest IPO since March 2012 and the fifth-largest of the entire decade.

Due to the strong demand from private and institutional investors in Switzerland and institutional investors outside of Switzerland , the IPO was oversubscribed . At the start of trading today the shares were priced at CHF 51.00 per share and are located at the upper end of the price range . This corresponds to a market value of CHF 918 million .

A total of 18,000,000 held by GE Capital Funding Swiss AG registered shares in the IPO , equivalent to 60 % of company shares , issued at a par value of CHF 1.00 per share. In addition, the consortium has been granted an over-allotment option of up to 2,500,000 shares of Cembra Money Bank AG with a nominal value of CHF 1.00. Following the exercise of the over-allotment option, a placement volume of approximately CHF 1,046 million would result .

The Allen & Overy team consisted of the lead partner Gernot Wagner , senior associates Dr. Susanne Lenz ( both U.S. Corporate Finance) , Dr. Camilla Kehler - White (Capital Markets Real ) , the Associates Rebecca Emory and Yannick Eagle ( both U.S. corporate finance , all Frankfurt) , partner Christopher Harrison and Associate Daniella Abel (both UK Tax , London) , the partners Jack Heinberg , Dave Lewis and associate Caroline Lapidus (all U.S. Tax , New York ) and partner Tony Sparks and senior associate Anand Sundaraj (both equity Capital Markets , Sydney) .