Novartis Spin-Off Sandoz Set to Launch Trading on Oct. 4
Shares expected to be offered on Six Swiss Exchange.
Novartis has officially confirmed it’s spin-off, Sandoz, with trading of new Sandoz Group AG shares and American Depositary Receipts (ADRs) to commence on Oct. 4. Expected to be listed and traded on the Six Swiss Exchange, Sandoz will be included in the Swiss Performance Index (SPI), Swiss Leader Index (SLI) and other relevant Swiss indices following completion of the Spin-off, as announced by the SIX Swiss Exchange.
According to a company press release, Sandoz has secured debt financing of $375 million through a group of banks which will also support the company with a credit facility of $1.25 billion.
Reference: Novartis confirms Sandoz Spin-off for October 4, 2023. Novartis. September 25, 2023. Accessed September 26, 2023. https://www.novartis.com/news/media-releases/novartis-confirms-sandoz-spin-october-4-2023
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