Research Coverage

Stage offers independent research coverage and is the place to secure coverage by Baader Helvea and/or ZKB and/or Octavian. Stage is orchestrated by SIX in partnership with Baader Helvea, Zürcher Kantonalbank, and Octavian. The Stage offer includes:

• Overview and synthesis of company key data
• Evaluation and outlook of the company and of the segment(s) in which it is operating (e.g., peer group analysis, rating estimation, financial model with forecast, company valuation range)
• Recommendation (rating) on whether to buy or sell the shares of the company
• Distribution of the research by the service provider to its client base

There is no contractual relation between the listed company and the research partners because SIX acts as intermediary between these parties. This ensures the independence of the research reports.

The research reports are provided by Baader Helvea, Zürcher Kantonalbank, and Octavian. Listed companies can choose from how many research partners they want to be covered. SIX then randomly allocates the research mandates among its three research partners. The research reports are updated at least twice a year (only once in the first year of the participation in the program). Research reports are fully integrated into the partners’ existing research product portfolio and distributed through their channels.

Click here for more details and to download the brochure.

All companies listed on SIX Swiss Exchange.

All

Baader Helvea is part of the Baader Bank Group, one of the leading family-run full-service investment banks serving customers across the German-speaking region. Its staff of approximately 400 people, located in Munich, Frankfurt, Zurich, Stuttgart, Dusseldorf, London, New York and Los Angeles supports customers and their needs across the business areas of Market Making, Capital Markets, Institutional Brokerage, Asset Management Services, Banking Services and Research.
www.baaderbank.com

Octavian is a Zurich-based, independent Swiss financial services and advisory boutique. Eight former Bank am Bellevue employees founded Octavian in 2017 to continue the 25-year-long legacy of providing insightful and comprehensive research and brokerage services for Swiss equities to a broad, internationally diversified institutional and HNWI investor client base. Under Octavian, the team has steadily grown while expanding its research coverage of Swiss Equities and its geographic reach to leading investor clients in Swiss equities. The research function provides in-depth, concise, and idea-driven research products, focusing on key value drivers and financial models. The research team has an average of 10+ years of relevant work experience, enriched with 2-4 years of industry and equity sales and trading experience. The team’s broad coverage encompasses all relevant sectors in Switzerland. 

www.octavian.swiss

Zürcher Kantonalbank is a leading universal bank in the Greater Zurich Area, with national roots and international reach. It is an independent public-law institution of the Canton of Zurich and has received top ratings from the rating agencies Standard & Poor’s, Moody’s and Fitch (AAA or Aaa). With more than 5,000 employees, Zürcher Kantonalbank offers its clients a comprehensive range of products and services. The bank’s core activities include financing businesses, asset and wealth management, trading, capital market transactions, deposits, payment transactions and card business. Zürcher Kantonalbank provides customers and distribution partners with a comprehensive  range of investment and retirement provision products and services. With its Swisscanto Invest by Zürcher Kantonalbank brand, the Zürcher Kantonalbank Group is one of the largest fund providers in Switzerland. It is known for its vanguard role in sustain- able investments and its funds regularly achieve national and international recognition.
www.zkb.ch

• Independence due to absence of contractual relation between the issuer and the research partners
• Research coverage offered by Baader Helvea, ZKB and Octavian.
• Baader Helvea  is  part  of  the  Baader  Bank  Group,  one  of the leading family-run full-service investment banks serving customers across the German-speaking region
• Octavian is a Zurich-based, independent Swiss financial services and advisory boutique providing research and brokerage services for Swiss equities.
• Zürcher Kantonalbank is a leading universal bank in the Greater Zurich Area, with national roots and international reach.

• Please contact us for more information

• CHF 30’000/ year for coverage by one randomly selected research partner.
• CHF 60’000/ year for coverage by two randomly selected research partners.
• CHF 90’000/ year for coverage by three research partners.
• Duration of 2 years at the outset of the contract, thereafter extendable by one year

Sparks Segment - Discounted Annual Fee During the First 2 Years

• CHF 25’000/ year for coverage by one randomly selected research partner.
• CHF 50’000/ year for coverage by two randomly selected research partners.
• CHF 75’000/ year for coverage by three research partners.
  
• The Discounted Annual Fee is applicable starting from the date that the company listed on Sparks or the date the Stage contract is signed for a company listed on Sparks. After 2 years, the Standard Annual Fee is applicable.

Presentation of the company in a feature research-article as part of HB’s daily research publication "WegWeiser,” which is sent to hundreds of customers and dozens of selected financial journalists.

• Overview and synthesis of company key data
• Evaluation and outlook of the company and of the segment(s) in which it is operating (e.g., financial model with forecast, company valuation range)
• Qualitative statement about the attractiveness of the business model
• Distribution of the research by the service provider to its client base (e.g., via newsletter, email, investor presentations, mobile app)
• Option to make research freely available to the public on company websites and/or via third-party distribution channels (e.g., in newsletters, magazines, mobile apps, social media)
• Access to the research analyst(s) to deep dive on evaluation, outlook, and conclusions

A feature-research article as part of the daily research “WegWeiser” is around 4-6 pages long (~ 1000-1500 words, including pictures, tables and charts). "WegWeiser" comments are updated/published following results and other important corporate news, like acquisitions.

Besides writing research, Helvetische Bank shares its in-depth experience with SME-issuers. Helvetische Bank provides a detailed second opinion on the strengths and weaknesses of the company's presentation/communication to investors (necessitates a coverage of at least four months). Helvetische Bank also offers in-house test runs (Helvetische Bank Research and other HB investment professionals) for investor presentations, including constructive feedback. 

All important events of the company will also be displayed and commented in the "WegWeiser."

Additional services (not included in this offer) from Helvetische Bank include the organization of external test runs with investors to improve the company’s capital market presence and to gather feedback (so-called “early-look meetings”) before raising additional equity/debt on public markets.

Fast-growing SMEs, mature SMEs

All except biotech; specialized in industrial sectors

Helvetische Bank’s capital market experts from our Corporate Finance, Research and Active Advisory practices combine for an average experience of more than 20 years. At the same time, being a small and agile challenger, Helvetische Bank aims to keep processes lean for clients in order to carefully treat client’s own resources during a transaction. www.helvetischebank.ch

Swiss investment bank focusing on advising SMEs in capital market transactions on SIX. Alternative to larger investment banks by structuring transactions to the needs of SME companies and by addressing non-standard investor categories.

• Research team with decades of experience in various sectors in the Swiss capital market.
• In-depth knowledge regarding corporate and investor communications from thousands of client meetings with institutional investors in Europe, the UK and the USA over an extensive time range.
• Daily research update “WegWeiser” distributed to its client base and financial journalists
• Strong network to non-standard investor categories (such as family offices, (U)HNWI and independent asset managers)
• Market leader in SIX listed CHF bond transactions with a nominal amount below CHF 100m
• Helvetische Bank is successfully operating in the Swiss capital market since 2011

• Ordinary and regular research coverage on a large number of Swiss small- and mid-caps on the SIX Swiss Exchange and a few private companies (Swiss and German), where we issued bonds, via our daily "WegWeiser"  
• Extensive Research coverage for debut bonds on the SIX Swiss Exchange, also for private companies in Switzerland and Germany (not included in the standard flat fee)
• Small- and mid-caps companies regularly covered include: Switzerland; ALSO, Arbonia, Artum (private company), Ascom, Autoneum, Bauwerk Group (private company), Belimo, Bobst, Bossard, Burkhalter, Bystronic, Cembra Money Bank, Comet, CPH, Crealogix, Interroll, Feintool, Flughafen Zürich, HBM Healthcare, Inficon, Landis+Gyr, Logitech, mobilezone, Poenina, Pierer Mobility, Schaffner, Schweiter, Sensirion, Swissquote, VAT Group, V-Zug, Zehnder Group – Germany: va-Q-tec (public company), Schön Klinik (private company)
• Examples of our research publications can be shared on request (see contact information)

• CHF 6’000/year in the first year (all-in fee); CHF 4’000/year thereafter
• Minimal duration of contract: One year

• Remo Rosenau, Head of Research,
  rro@hbagz.ch, +41 44 204 57 30
• Manuel Peter, Research-Analyst,
  mpe@hbagz.ch, +41 204 57 31