UBS Group AG acquired a 4.8% stake in 360 ONE WAM after exercising warrants on Thursday. The Swiss bank converted over 20.5 million warrants into shares by paying the remaining 75% balance. This move comes more than a year after UBS shifted its local wealth management operations to the firm.
In a notable development, UBS Group AG has secured a 4.8% stake in 360 ONE WAM by exercising warrants. This action comes over a year after UBS shifted its local wealth management operations to the company. The Swiss bank has now executed over 20.5 million warrants and fulfilled the payment obligation that began with a 25% down payment, marking a substantial investment in India.
Mumbai: UBS Group AG has acquired a 4.8% stake in 360 ONE WAM by exercising warrants allotted by the Indian wealth manager, more than a year after transferring its local wealth management business to the firm.
UBS exercised over 20.5 million warrants issued by Mumbai-based 360 ONE, the company said on Thursday. The Swiss bank had paid 25% of the exercise price at allotment and has now paid the remaining 75% to convert the warrants into shares.