Bloomberg

(Bloomberg) -- EFG International AG plans raise 500 million Swiss francs ($524 million) selling stock for at least 6.12 francs apiece to raises funds to buy private bank BSI SA.

EFG’s main shareholder, EFG Bank European Financial Group SA, increased its commitment to the share sale to 271 million francs from the previously announced 125 million, EFG said in a statement on Thursday. As a result, EFG is terminating underwriting agreements with securities firms made earlier.

To contact the reporter on this story: Ross Larsen in London at rlarsen2@bloomberg.net. To contact the editors responsible for this story: Neil Callanan at ncallanan@bloomberg.net, Elisa Martinuzzi

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