25.05.2007 – 15:56
Gerresheimer AG announces key data for IPO
This press release or the information contained herein is not being issued and may not be distributed in the United States of America, Canada, Japan or Australia.
- Price range for Gerresheimer shares set at EUR 37 to EUR 45
- Planned offering comprises up to 22 million shares (plus
over-allotment option of a further 3.3 million shares)
- Start of trading on the Official Market (Prime Standard) of the
Frankfurt Stock exchange set for 11 June 2007
Gerresheimer AG, a leading worldwide manufacturer of high-quality specialty-glass and plastic products for the pharmaceutics and life science industry announces today the key terms of its initial public offer. The price range has been set by the company and the offering shareholder BCP Murano II S.à r.l. together with the Joint Global Coordinators and Joint Bookrunners Credit Suisse and Morgan Stanley at EUR 37 to EUR 45.
The offering comprises up to 11.4 million shares from a capital increase and up to 10.6 million shares from the existing holding of the selling shareholder BCP Murano II S.à r.l., which is furthermore providing up to 3.3 million shares for an additional allocation option. BCP Murano II S.à r.l., an affiliate of The Blackstone Group International Limited, currently holds 100% of the shares in Gerresheimer AG. If the over-allotment option is fully taken up, a free float of 80.6% would be the result.
"Over recent years we have turned Gerresheimer into one of the market leaders in the field of specialty-glass and plastic products for the pharma and life science industry and are now ready for the stock market," says Dr. Axel Herberg, CEO of Gerresheimer AG.
The shares of Gerresheimer AG are offered in a public offering in Germany as well as an international private placement with international investors outside Germany. The subscription period commences on 29 May and will probably end on 8 June 2007. "As a leading worldwide partner for the pharma and life science industry we wish to continue our growth strategy consistently. The IPO is intended to allow us to speed up our organic growth through targeted acquisitions," says Herberg. The road show for institutional investors in Germany, in rest of Europe and in the USA starts on 29 May and will probably end on 8 June.
The shares in Gerresheimer AG will be trading on the Official Market (Prime Standard) of the Frankfurt Stock Exchange under the stock-exchange abbreviation "GXI" and the ISIN "DE000A0LD6E6", probably from 11 June 2007. In addition to Credit Suisse and Morgan Stanley as Joint Global Coordinators and Joint Bookrunners, the syndicate includes ABN AMRO Rothschild, Cazenove and Dresdner Kleinwort as Co-Lead Managers.
Gerresheimer currently employs around 9,000 people in 31 locations in Europe, America and Asia. The product range comprises medicine bottles made of glass and plastic as well as complex drug delivery systems. The latter include for example prefillable sterile syringes, inhalers and other system solutions for safe dosage and application of medications. The Group has a leading position in a market characterised by technical and regulatory entry barriers as Gerresheimer's products must meet the highest quality requirements of the international pharmaceutical supervision authorities.
The Group achieved sales of around EUR 893 million in 2006 on a pro-forma basis, of which around EUR 247 million was attributable to the recently acquired Wilden AG, a European market and technology leader for innovative plastic systems. Pro-forma adjusted EBITDA for the Group in 2006 totalled around EUR 151 million. In the financial year 2007, sales for the - traditionally weakest - first quarter were around EUR 226 million and pro-forma adjusted EBITDA around EUR 40 million.
The information contained herein serves information purposes and does not constitute any offer for sale or subscription of or solicitation or invitation of any offer to buy or subscribe for any securities. Securities will solely be offered on the basis of a prospectus or other offering circular to be issued by the company in connection with such offering. Any such German prospectus or offering circular will be available free of charge as of 25 May 2007 for persons outside of the United States from the Gerresheimer website under www.gerresheimer.com as well as from Gerresheimer AG and the Global Coordinators.
This press release does not constitute an offer to sell securities, or a solicitation of an offer to buy securities, into the United States. The securities of Gerresheimer AG described herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or the laws of any State, and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable State laws. Neither Gerresheimer AG nor any selling shareholder intends to register any portion of the offering in the United States or conduct a public offering of securities in the United States.
This communication is directed only at (I) persons who are outside the United Kingdom or (II) persons having professional experience in matters relating to investments or (III) high net worth companies and other persons to whom it may lawfully be committed falling within article 49(2)(a) to (d) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (all such persons together being referred to as "Relevant Persons"). 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.
Contact: Burkhard Lingenberg Director Corporate PR & Marketing Gerresheimer AG Tel. +49-(0)211/6181-251 firstname.lastname@example.org
Original content of: Gerresheimer AG, transmitted by news aktuell