Goldman Sachs and UBS Investment Bank have led a Sfr391m(€252m) sale of shares in cement manufacturer Holcim, the second biggest equity placement in Switzerland this year.

Goldman and UBS were joint bookrunners of the Holcim trade on Wednesday. The banks sold 7 million shares in an accelerated bookbuild at Sfr55.50 each. The shares were sold at the market price at the time of the books closing but at a 5.3% discount to the previous closing price of Sfr58.60.