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Klöckner & Co SE

OFFER PRICE FOR KLÖCKNER & CO AT EUR16 PER SHARE

- OFFER SIZE OF €264 MILLION AND €296 MILLION IF THE GREENSHOE IS FULLY
EXERCISED
- IPO OVERSUBSCRIBED AT ISSUE PRICE
- CEO THOMAS LUDWIG: "WE ARE DELIGHTED ABOUT THE INVESTORS' CONFIDENCE"
  ots-CorporateNews transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
Duisburg, June 27,2006 - Today, Klöckner & Co Aktiengesellschaft, the
selling shareholder Multi Metal Investment S.à r.l. and the Joint
Bookrunners UBS Investment Bank, Deutsche Bank and JPMorgan jointly
determined the offer price at EUR 16.00 per share. At the offer price
the Klöckner & Co shares were oversubscribed.  "We are very pleased
with the success of our roadshow, especially as we celebrate our
100th anniversary on the first day of trading. Despite difficult
market conditions, investors believe in the sustainability of our
business model and in our strong upward potential in the long term,"
said CEO Thomas Ludwig. Based on the issue price, and including the
new shares from the capital increase, the market capitalization will
amount to EUR744 million. The company will receive gross proceeds of
EUR104 million from a capital increase consisting of a total of 6.5
million new shares. The first day of trading on the Prime Standard
Market of the Frankfurt Stock Exchange will be June 28, 2006.  Based
on the offer price, the offer size will be EUR264 million and EUR296
million if the greenshoe option is fully exercised. 10 million shares
are being placed from the holdings of the selling shareholder, 6.5
million new shares from a capital increase and further 2 million
additional shares from the holdings of the selling shareholder in
connection with the overallotments. The free float will amount to
around 40 percent if the greenshoe option is fully exercised. 98.7
percent of the 18.5 million offered shares were placed with
institutional investors and 1.3 percent with private investors. All
shares carry a full dividend entitlement for the financial year,
which has commenced on January 1, 2006. The shares were allotted to
private investors in Germany in compliance with the "Principles for
the Allotment of Share Issues to Private Investors" issued by the
Stock Exchange Commission of Experts at the Federal Ministry of
Finance on June 7, 2000.The allocation to private investors was based
upon uniform criteria by the Joint Bookrunners, i.e., each private
investor received an identical percentage allotment of their demand.
The selling shareholder will retain an interest of around 60 percent
in the company if the greenshoe option is fully exercised. Under a
lock-up agreement, the selling shareholder has undertaken to retain
its remaining shares for a period of twelve months from the delivery
of the shares. The company has agreed not to announce or effect any
increases from authorized capital during this period, or to propose
such increases to its general meeting.  The company will receive
gross proceeds of EUR104 million. After deduction of commissions,
these will be used to further improve the capital structure of the
Klöckner & Co Group and to repay third-party debt, thus generating
additional headroom for growth. Specifically, the company is
considering a partial redemption of the notes issued by Klöckner
Investment S.C.A.
About Klöckner & Co Klöckner & Co is the largest producer-independent
steel and metal distributor in the European and North American
markets combined. The core business is the warehouse distribution of
steel and non-ferrous metals. Around 200,000 active customers are
served from around 240 distribution and service centers in 14
countries across Europe and North America. Klöckner & Co was founded
by Peter Klöckner a century ago. In the financial year 2005, the
company reported sales of around EUR5 billion, with a staff of around
10,000.
Contacts:
Peter Ringsleben and Claudia Uhlendorf, Corporate Communications
Klöckner & Co AG
Am Silberpalais 1
47057 Duisburg
Peter Ringsleben
Phone: +49 203 307 2800
Fax: +49 203 307 5060
E-mail:  peter.ringsleben@kloeckner.de
Claudia Uhlendorf
Phone: +49 203 307 2289
Fax: +49 203 307 5103
E-mail:  claudia.uhlendorf@kloeckner.de
This publication is not for direct or indirect distribution in or
into the United States (including its territories and outlying areas,
any State of the United States and the District of Columbia). This
publication does not constitute or form a part of any offer or
solicitation to purchase or subscribe for securities. The shares of
Klöckner & Co AG referred to herein (the "Shares") may not be offered
or sold in the United States absent registration or an exemption from
registration under the U.S. Securities Act of 1933, as amended (the
"Securities Act"). The Shares have not been, and will not be,
registered under the Securities Act and will not be publicly offered
anywhere outside Germany. The offer in Germany will be made
exclusively by means of and on the basis of a prospectus and the
supplement No. 1 to the prospectuses, that have been published. That
prospectus and the supplement No. 1 have been made available on the
company website at www.kloeckner.de. The prospectus and the
supplement No. 1 to the prospectus are available in printed from free
of charge from the company and the Joint Bookrunners.
This ad hoc announcement does not constitute an offer of securities
to the public in the United Kingdom. This ad hoc announcement is
directed only at (i) persons who have professional experience in
matters relating to investments and who fall within Article 19(5) of
the Financial Services and Markets Act 2000 (Financial Promotion)
Order 2005 (the "Order") or (ii) persons falling within Article
49(2)(a) to (d) (high net worth companies, unincorporated
associations, etc.) of the Order or to whom it may otherwise lawfully
be communicated (all such persons together being referred to as
"relevant persons") or in circumstances in which section 21 of the
FSMA does not apply to the Company. Any person who is not a relevant
person must not act or rely on this communication or any of its
contents.  Any investment or investment activity to which this
communication relates is available only to relevant persons and will
be engaged in only with relevant persons.
end of announcement                               euro adhoc 27.06.2006 23:44:45

Further inquiry note:

Claudia Uhlendorf
Public Relations
Telefon: +49(0)203-307-2289
E-Mail: claudia.uhlendorf@kloeckner.de

Branche: Metal Goods & Engineering
ISIN: DE000KCO1000
WKN: KCO100
Börsen: Frankfurter Wertpapierbörse / admission applied: official
dealing

Original-Content von: Klöckner & Co SE, übermittelt durch news aktuell

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