BUENOS AIRES, June 10, 2025 – In a move that’s sure to ripple through the Argentinian financial landscape, Grupo Financiero Galicia S.A. (Nasdaq: GGAL) has announced the pricing of an underwritten secondary offering. The deal, spearheaded by HSBC Bank plc (the “Selling Shareholder”), involves the sale of 11,721,449 American Depositary Shares (ADSs), each representing ten Class B ordinary shares. The offering price has been set at a cool $54.25 per ADS.
This transaction, however, comes with a caveat. While a significant financial event, the ADSs are not authorized for public offering in Argentina by the Argentine National Securities Exchange Commission (the “CNV”), and are not being offered or sold publicly under the Argentine Capital Markets Law. The documents related to the Offering have not been filed with, reviewed or authorized by the CNV, and therefore the CNV has not made any determination as to the truthfulness or completeness of those documents.
Here’s the breakdown: The Selling Shareholder, HSBC, is the sole beneficiary of the proceeds. Groupo Financiero Galicia itself isn’t selling any shares in this offering, and therefore, won’t see any direct financial gain from this particular transaction. Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC are acting as the underwriters for the offering.
The deal is expected to close on June 12, 2025, assuming all the usual closing conditions are met. The offering is being made according to a shelf registration statement filed with the U.S. Securities and Exchange Commission (“SEC”).
Investors looking for a deeper dive can access the final prospectus supplement and accompanying prospectus, which will be filed with the SEC, from Morgan Stanley & Co. LLC or Goldman Sachs & Co. LLC. You can also find these documents on the SEC’s website at www.sec.gov.
A Word of Caution to Investors: This announcement is not a sales pitch. It’s not an offer to sell or a solicitation to buy securities, and it’s certainly not legal to sell these securities in any state where that would be illegal.
Looking Ahead: Forward-Looking Statements
This press release contains forward-looking statements within the meaning of U.S. securities laws. Keep in mind that these are not guarantees. The actual outcome of the planned offering could be impacted by a host of factors, including economic conditions, industry dynamics, and even geopolitical events. Grupo Financiero Galicia’s most recent annual report on Form 20-F details specific risks. The company isn’t promising to update these forward-looking statements to reflect any curveballs that life might throw its way.
About Grupo Financiero Galicia S.A.:
Grupo Financiero Galicia S.A. (Nasdaq: GGAL) is a major player in Argentina’s financial scene. The firm seeks to generate long-term value by providing an array of financial services, from savings and loans to investments and insurance. Grupo Financiero Galicia has a long history, and the company is dedicated to customer experience and sustainable development.
The company is comprised of Banco de Galicia y Buenos Aires S.A.U. (Banco Galicia), GGAL Holdings S.A. (Galicia Más Holdings), Tarjetas Regionales S.A. (Naranja X), Sudamericana Holdings S.A. (Galicia Seguros), Galicia Asset Management S.A.U. (Fondos Fima), IGAM LLC (Inviu), Galicia Securities S.A.U. (Galicia Securities), Agri Tech Investment LLC (Nera), Galicia Ventures LP and Galicia Investments LLC (collectively referred to as Galicia Ventures), and Galicia Warrants S.A. (Warrants).
Contact:
Mr. Pablo Firvida
Investor Relations Officer
www.gfgsa.com
+5411 6329 4881
[email protected]
Important Note for Argentina-Based Readers:
The terms of this offering will be communicated in Argentina via an “hecho relevante,” in order to provide information; however, it will not constitute an offer of securities for sale in Argentina.
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