ZURICH, Oct 8 (Reuters) - Swiss private bank Julius Baer on Monday said it would offer all shareholders three new shares for every 29 shares already held as it seeks to finance its purchase of part of Bank of America Merrill Lynch
wealth management business.
Julius Baer announced the acquisition of Merrill Lynch's overseas wealth management business in August as it seeks to expand in fast-growing emerging markets.
The subscription price for the new registered shares was fixed at 24.20 per share, Baer said in a statement, aiming to raise gross proceeds of 492 million Swiss francs ($529.97 million).
($1 = 0.9284 Swiss francs)
(Reporting by Catherine Bosley)
((email@example.com)(+41 58 306 7461))