Leonteq had a difficult 2016 and returned a loss. The share price slumped. Now, the company has a new major shareholder – he is a well-known Swiss investor.
Leonteq has a new shareholder: Rainer Marc Frey, the former hedge-fund manager and UBS board member. He currently holds 7.46 percent of Leonteq shares, the company said in a statement today. Frey in total has 1,190,000 Leonteq shares, via a fund managed by Horizon21.
Leonteq posted a loss in 2016. The shares dropped from 226 Swiss francs 20 months ago to 34 francs.
Third Large Shareholder
With the stake he acquired this month, Frey becomes the third large shareholder of Zurich-based Leonteq. Raiffeisen Group, the Swiss retail bank, is a shareholder in the derivatives specialist, with a stake of 29 percent.
The bank is part of a shareholder group with Leonteq founders Jan Schoch, Sandro Dorigo and Lukas Ruflin. The group holds a total of 44.3 percent of the company’s shares. Another Swiss investor, Gregor Greber, last summer bought a major stake in the company. However, he gave up a few months later.
Pierin Vincenz, the former CEO of Raiffeisen Switzerland, is the chairman of Leonteq.
