Transocean, the offshore drilling contractor which moved its domicile to Switzerland from the Cayman Islands for tax reasons in December 2008 and boasts a market capitalisation of around $28bn (€20.9bn), saw its new listing on the Six Swiss Exchange picked up by a raft of Swiss structured products issuers.
Since last Tuesday when the firm made the biggest Swiss bourse debut since the merger of Swiss Bank Corporation and Union Bank of Switzerland (to form UBS) in 1997, 33 products have been launched with Transocean as underlying by issuers including Vontobel, Clariden Leu, UBS and Julius Baer. Before the listing, SRP's Swiss database counted only five products with Transocean as the underlying.
"We believe the listing of Transocean's shares on Six is an excellent way to increase interest in Transocean among Swiss and European investors and reaffirm our presence as a Swiss company," said Transocean president Steven Newman.
The firm is expected to enter the Swiss exchange's SMI index of blue chips in the coming months.