M&A - GRUPO FINANCIERO GALICIA SA

Form Type: POSASR

Filing Date: 2025-06-10

Corporate Action: Acquisition

Type: Update

Accession Number: 000121390025053110

Filing Summary: This document is a Post-Effective Amendment No. 1 to Form F-3 for Grupo Financiero Galicia S.A., amending a registration statement initially filed on January 2, 2025. It registers additional securities acquired by a selling shareholder, HSBC Bank plc, in connection with an acquisition that was completed on December 6, 2024. This amendment updates the prospectus by incorporating new terms relevant to the additional American Depositary Shares (ADSs) and modifies the date on the cover page accordingly. The registration includes up to 11,721,449 ADSs representing up to 117,214,490 Class B Ordinary Shares originally issued in a private placement related to the purchase of equity stakes in subsidiaries of HSBC in Argentina. The selling shareholder can sell the ADSs at prevailing market prices. The document outlines the overall framework for the prospectus, emphasizes that Grupo Financiero Galicia is not offering any ADSs for sale, and notes the substantial assets and market position of Banco Galicia, the main subsidiary of the group. The summary also addresses financial data, risks associated with investments, and references to previous filings and statements relevant to understanding the offering.

Form Type: F-3ASR

Filing Date: 2025-01-02

Corporate Action: Acquisition

Type: New

Accession Number: 000111470025000002

Filing Summary: On January 2, 2025, Grupo Financiero Galicia S.A. filed a registration statement with the SEC for the resale of up to 11,382,161 American Depositary Shares (ADSs), equivalent to 113,821,610 Class B Ordinary Shares. This document pertains to the ADSs originally issued in connection with the company's acquisition of HSBC's banking, asset management, and insurance businesses in Argentina, which closed on December 6, 2024. The selling shareholder will have the right to sell these ADSs from time to time, at market prices or negotiated prices. The document outlines the financial position and market share of Banco Galicia, the main subsidiary, which is one of the largest banks in Argentina. As of September 30, 2024, Banco Galicia reported substantial assets and a robust customer base. The acquisition is expected to bring significant cost savings and synergies, although the integration might present challenges. The company does not expect to receive any proceeds from the sale of ADSs and emphasizes the risks involved in investing in the securities offered under this prospectus. The ADSs will be traded on the Nasdaq under the symbol 'GGAL.'