Grupo Financiero Galicia S.A. Announces Secondary Offering
Grupo Financiero Galicia S.A. (Nasdaq: GGAL), recognized as one of Argentina's foremost financial services groups, has launched a significant underwritten secondary offering. This offering, being executed by HSBC Bank plc, includes 11,721,449 American Depositary Shares (ADSs), which correspond to 117,214,490 Class B ordinary shares of the Company. Each share holds a par value of Ps.1.00.
Details of the Offering
It's essential to note that the ADSs included in this offering are not authorized for public sale in Argentina. This is under the jurisdiction of the Argentine National Securities Exchange Commission (CNV), which has not filed or reviewed documentation related to this offering. As a result, they’ve not evaluated the accuracy or completeness of the associated documentation.
Role of the Selling Shareholder
In this offering, all ADSs are being made available by HSBC Bank plc, which will retain the full proceeds from the sale. Grupo Financiero Galicia itself will not be selling any shares and will not benefit from any financial gain from this transaction.
Underwriters of the Offering
Morgan Stanley & Co. LLC along with Goldman Sachs & Co. LLC are engaged as the lead underwriters for the offering. They will play a crucial role in ensuring the transaction proceeds smoothly and efficiently.
Registration Statement and Prospectus
This offering is part of an effective shelf registration statement on Form F-3 filed with the U.S. Securities and Exchange Commission (SEC) by Grupo Financiero Galicia. Potential investors are encouraged to refer to the prospectus related to this registration statement for comprehensive details about the Company and the offering. To make informed decisions, copies of this prospectus are obtainable through the underwriters.
Important Notices for Investors
This announcement does not offer any securities nor solicits an offer to buy. Additionally, no sales will occur in jurisdictions where it would be unlawful before the necessary registration or qualification under relevant securities laws.
Understanding Forward-Looking Statements
Prospective investors are made aware that the content of this release contains forward-looking statements in accordance with relevant U.S. securities laws. Such statements may include expectations about the ADS sales involved in this offering. However, these statements may be influenced by various uncertainties and risks, which may cause the actual results to diverge from current expectations.
About Grupo Financiero Galicia S.A.
Grupo Financiero Galicia S.A. stands as a pivotal financial services holding entity within Argentina. Its primary objective is to foster long-term value through its diverse operations, offering a multitude of services ranging from savings and credit to investment, insurance, and digital solutions, with a strong focus on enhancing customer experiences and promoting sustainable growth.
A Legacy of Excellence
With a legacy spanning over a century, Grupo Financiero Galicia has established itself through its variety of subsidiaries, including Banco de Galicia y Buenos Aires S.A.U., Galicia Más Holdings, and Galicia Securities S.A.U., among others. Each of these entities contributes to a robust array of financial solutions tailored to meet the needs of individuals and enterprises alike.
Investor Relations and Contact Information
For those interested in learning more, Mr. Pablo Firvida serves as the Investor Relations Officer. He can be reached through the official website of Grupo Financiero Galicia, where additional information and resources are available. To directly connect, he can be contacted by phone or through email.
Frequently Asked Questions
What is the purpose of the secondary offering by Grupo Financiero Galicia?
The secondary offering aims to sell American Depositary Shares held by HSBC Bank plc, providing liquidity to the shareholder.
Who will benefit from the proceeds of this offering?
All proceeds from the offering will go directly to HSBC Bank plc, the selling shareholder.
Are the ADSs offered authorized for sale in Argentina?
No, the ADSs are not authorized for public offering in Argentina by the CNV.
How can investors access the prospectus related to the offering?
Investors can obtain the prospectus from Morgan Stanley & Co. LLC or Goldman Sachs & Co. LLC as outlined in the offering announcement.
What role do Morgan Stanley and Goldman Sachs play in this offering?
Both firms are acting as the underwriters, assisting in managing the offering process and ensuring its success.
