LuxCSD handled issuance of shares in dematerialised form in support of IPO of SUSE S.A.
LuxCSD successfully handled the issuance of the share capital in dematerialised form of SUSE S.A. in support of its listing and IPO on the Frankfurt Stock Exchange. The company, which is based in Luxembourg, is a global provider of open source based software solutions. The market capitalisation of the company is 5.1 bn EUR (value per 25 May 2021).
The IPO was accompanied by BofA Securities, Morgan Stanley, Deutsche Bank AG, Goldman Sachs, J.P. Morgan and Jefferies. The LuxCSD Principal Agent (LPA) was Banque Internationale à Luxembourg (BIL) ensuring the timely and accurate processing of the public shares.
Issuance of dematerialised securities
LuxCSD fully supports the issuance of dematerialised securities as these significantly increase efficiency and reduce risks and costs for the industry. Dematerialised issuance is widely recognised as the most efficient and secure form of issuance.
In 2013, Luxembourg adopted the law governing the dematerialisation of physical securities as well as the issuance of dematerialised securities, permitting electronic records to replace the currently predominant global certificate.
Benefits for issuers
Issuers benefit from the ability to receive information on the holders of their issued securities and from more favourable treatment of electronic securities under foreign laws, for example for tax purposes.