LuxCSD becomes issuer CSD for Luxempart’s dematerialised shares
LuxCSD has successfully handled the migration of a substantial part of Luxempart S.A.’s equity (EUR 2.2 bn of net asset value as of December 2022), becoming the issuer CSD for the dematerialised shares (LXMPR) listed on the Luxembourg Stock Exchange.
Founded in 1988, Luxempart S.A. is a professional investor in private and listed companies across the Belux, the German speaking markets, France and Northern Italy. The Group complements this main strategy by investing in third-party private equity funds, mainly in North America and Asia.
In accordance with Luxembourg law of 6 April 2013 on dematerialised securities (the “Dematerialised Securities Law”), issuers can decide to issue new and / or convert existing securities into dematerialised form.
It is the most modern way to manage securities as they are booked into the securities account of the shareholders. Consequently, there is no need to issue a physical certificate or register.
Therefore, it facilitates transfer of securities and deletes operational risks linked to manual handling of the documents.
Dematerialised securities also give issuers greater visibility with regards to shareholders and facilitate communication.
LuxCSD accompanied Luxempart S.A. throughout the migration process, partnering with BIL in the context of our tri-partite contractual framework.
This major achievement was made possible thanks to the close cooperation with the Agency Services department of Banque Internationale à Luxembourg (BIL), our LuxCSD Principal Agent (LPA).