Swiss investor Rainer-Marc Frey used the recent turbulent times on the stock exchange to increase his stake in Leonteq, the derivatives platform.
Rainer-Marc Frey has exceeded the shareholding threshold of 10 percent in Leonteq, the company said in a statement on Friday. Before buying additional shares, Frey held 6.4 percent of the Zurich-based company.
Leonteq was notified by Frey that he indirectly, through H21 Macro Limited, holds registered shares and has written put options representing an aggregate 11.63 percent of the outstanding shares of Leonteq.
As of October 31, 2018, Frey held 1,715,000 shares, which represent 9.06 percent of the outstanding Leonteq shares. In addition, he held written put options, which means that if the put options are exercised by the option holder, he has the obligation to buy 486,081 Leonteq shares, representing 2.57 percent, on the following terms and conditions: strike 48.35 Swiss francs; subscription ratio 1:1; maturity October 21, 2019.
