Finance
Sandoz family foundation offers $3 billion worth of Novartis shares
Published by Global Banking & Finance Review®
Posted on February 25, 2025
1 min readLast updated: January 25, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on February 25, 2025
1 min readLast updated: January 25, 2026
Sandoz Family Foundation launches a $3 billion public offering of Novartis shares, representing 1% of the company, at a 2.5% discount.
ZURICH (Reuters) - Emasan AG, an arm of the Sandoz Family Foundation, has launched a public offering of some 26.5 million shares in Swiss pharmaceutical firm Novartis to raise up to $3 billion in an accelerated bookbuilt offering, according to the bookrunner.
According to the terms of the offering, seen by Reuters on Tuesday, Emasan is putting up the stock at 98.25 Swiss francs per share, or a discount of 2.5% to the market price.
The stake Emasan is selling represents roughly 1% of Novartis's outstanding shares, the pharma company said.
The vast majority of Novartis shareholders are institutional investors with a long-term view, which the company expects to continue, a Novartis spokesperson said.
Books for the deal are covered, the bookrunner said.
Emasan was the second largest Novartis shareholder at the end of 2024 with 4.1% of the stock, according to the firm.
Sandoz was one of the two predecessor companies which combined to form Novartis in 1996.
(Reporting by Alexander Huebner and Paul Arnold; Additional reporting by Oliver Hirt; editing by Alexandra Hudson)
Emasan AG, part of the Sandoz Family Foundation, is launching a public offering to raise up to $3 billion by selling approximately 26.5 million shares of Novartis.
The shares are being offered at 98.25 Swiss francs per share, which is a discount of 2.5% to the current market price.
Emasan is selling a stake that represents roughly 1% of Novartis's outstanding shares.
The majority of Novartis shareholders are institutional investors who typically have a long-term investment perspective.
At the end of 2024, Emasan was the second largest shareholder of Novartis, owning 4.1% of the company's stock.
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