Swatch's founding family continue to buy shares in the watch group, acquiring registered shares worth CHF31 million francs this summer.
This content was published on
According to a management transaction published on the Swiss Stock Exchange website, 80,371 Swatch bearer shares changed hands for just over 14.3 million shares. Three persons subject to the reporting obligation carried out the transaction jointly, it says.
In July, a spokesperson for the Bienne-based watchmaker confirmed that the purchases were made by President Nayla Hayek, CEO Nick Hayek and his nephew Marc Hayek. The family is well represented on the company’s boards. Swatch has not commented on the purchase.
The bearer shares were acquired at a price of CHF178.30 each. At the beginning of the year, the share was still worth CHF220, and hit a low of under CHF150 in September. Following the announcement of the purchase, the share price climbed 2.7% to CHF185.70.
At the end of 2023, the Hayek clan and affiliated companies, institutions and individuals controlled 43.3% of all Group voting rights, holding 62.5 million registered shares and 738,026 bearer shares.
Registered shares are worth five times less than bearer shares, which are traded on the Swiss Leader Index SLI, but offer their holders the same voting rights. As a result, the Hayek family has a greater say in the company’s decisions, even though its capital is relatively small.
Adapted from French by DeepL/ac
This news story has been written and carefully fact-checked by an external editorial team. At SWI swissinfo.ch we select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate it into English. Providing you with automatically translated news gives us the time to write more in-depth articles.
If you want to know more about how we work, have a look here, if you want to learn more about how we use technology, click here, and if you have feedback on this news story please write to [email protected].
More
Collective cult massacres are still a possibility in Switzerland
This content was published on
A massacre like that of the Order of the Solar Temple (OTS) 30 years ago could happen again in Switzerland.
Switzerland will deliver rubble removal equipment to Ukraine
This content was published on
Thirty rubble removal machines and thirty fire-fighting pumps: this is the equipment that Switzerland will be delivering to the Ukraine in the next few days. The total value of these goods is 5.6 million Swiss francs.
SWI swissinfo.ch – the international service of the Swiss Broadcasting Corporation (SBC).
Since 1999, swissinfo.ch has fulfilled the federal government’s mandate to distribute information about Switzerland internationally, supplementing the online offerings of the radio and television stations of the SBC. Today, the international service is directed above all at an international audience interested in Switzerland, as well as at Swiss citizens living abroad.
The Swiss economy grew slightly faster than expected in the second quarter of 2024. Gross domestic product (GDP) increased by 0.5% on an adjusted basis between April and June 2024 compared to the previous quarter.
This content was published on
August 15, 2024 – 13:31
+Get the most important news from Switzerland in your inbox
This growth was “slightly above average”, according to initial estimates by the State Secretariat for Economic Affairs (Seco). Industry in particular contributed to growth, along with the services sector.
+ Read how different sectors of the Swiss economy are faring
Economists surveyed by AWP had only expected growth of 0.2 to 0.4%. In the first quarter, GDP had
UBS Group AG was asked by a powerful US lawmaker about whether the bank it acquired, Credit Suisse Group AG, failed to report an American accused of evading taxes on $350 million (CHF307 million) in income.
Flying will become even more expensive next year when the Lufthansa Group starts charging a new type of environmental fee for flights. The fee will also be introduced at SWISS and Edelweiss.