Keystone-SDA
This content was published on
October 4, 2024 – 7:44 p.m.
(Keystone-ATS) Purchases of Swatch shares by the Hayek founding family continue. After acquiring registered shares worth 31 million francs this summer, Nayla, Nick and Marc did it again on Friday.
According to a management transaction published on the Swiss Stock Exchange website, 80,371 Swatch bearer shares changed hands for just over 14.3 million. Three people subject to the obligation to declare carried out the transaction jointly, we can read.
In July, a spokesperson for the Bienne watchmaker confirmed that these purchases were the work of president Nayla Hayek, general manager Nick Hayek and his nephew, Marc Hayek. The family is widely represented within the company’s management bodies. As of Friday afternoon, the group had not yet responded to AWP’s requests.
The bearer shares were acquired at a price of 178.30 francs per unit. At the start of the year, the stock was still worth 220 francs and its lowest point was reached in September, below 150 francs. After the announcement of this repurchase, its value rose by 2.7% to 185.70 francs.
At the end of 2023, the Hayek clan and affiliated companies, institutions and individuals controlled 43.3% of all voting rights in the group, holding 62.5 million registered and 738,026 bearer shares.
Registered shares have a value five times lower than bearer shares which are traded on the SLI, but they offer their holder the same voting rights. The Hayek family thus weighs more heavily in decisions with relatively little capital.
