Berne Cantonal Bank seeks second market listing
The Berne Cantonal Bank will list two million shares on the SWX Swiss Exchange on August 2. This will be the bank's second market listing after the Berne Telephonic Bourse.
The stock to be quoted represents 22 per cent of the capital of some nine million shares, said bank spokesman Pieter Lienhard.
On the Berne Telephonic Bourse – a small regional exchange where orders are transmitted by members on the telephone – the stock was quoted at SFr136. The high for the year was SFr139 with the low at SFr134.
The regional bank, which employs 1,500 staff and has around SFr16 billion in assets, had a net profit of SFr49.7 million in 1999.
The central Swiss canton of Berne owns 74 per cent of the capital of the cantonal bank.
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