HNA/HNB - Status for the initial public offering on Oslo Stock Exchange
NOT FOR DISTRIBUTION IN WHOLE OR IN PART IN THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN
Reference is made to the stock exchange notices dated 19 November 2007 and 29 November 2007.
In light of volatile equity markets, the board of directors of Hafslund Infratek ASA ("the Company") has decided to reduce the offering price to NOK 18 per share in the ongoing Initial Public Offering. This implies a market capitalisation of the Company prior to the Offering of NOK 570 million.
The Company still intends to raise approx. NOK 200 million in new equity and has thus decided to increase the number of new shares in the transaction to 11,100,000 new shares (up from 8,000,000 to 10,000,000 new shares as described in the prospectus). All other transaction parameters remain the same.
The bookbuilding period for the institutional offering closes at 16:30 (CET), today Friday 30 November, 2007. The application period for the retail and employee offering closes at 14:00 (CET).
The board of directors is pleased that the board of Oslo Stock Exchange in their meeting on 28 November 2007 resolved to admit the shares in Hafslund Infratek ASA to listing on Oslo Stock Exchange, given that certain aspects are met before listing. The Company still expects that the first day of trading of its shares on Oslo Stock Exchange will be on or about 5 December 2007.
Oslo, 30 November 2007
For further information, please contact:
Gunnar Gjørtz: + 47 922 17 200
www.infratek.no
About Hafslund Infratek:
Hafslund Infratek is a leading turn-key supplier of services related to developing, operating and securing critical infrastructure; energy carriers, telecom and security systems. The Company has a strong presence in the southern part of Norway, with growth ambitions in Norway and the Nordic region. Hafslund Infratek focuses on the corporate market; utility companies, the oil and gas industry and real estate contractors and owners. For the first nine months of 2007 the business area reported a turnover of NOK 946 million.
The Company has about 1,500 employees and represents a separation of the business area Technical services from the Hafslund Group. Hafslund Infratek shall take an active role in the market for technical services, both from an organic and structural point of view.
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This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of Hafslund Infratek in the United States, nor shall there be any sale of these securities in any state thereof in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The securities of Hafslund Infratek may only be offered and sold in the United States pursuant to an effective registration statement filed with the United States Securities and Exchange Commission or pursuant to an exemption from the registration and prospectus delivery requirements of the United States Securities Act of 1933, as amended. Any public offering of the Hafslund Infratek's securities in the United States will be made only by means of a prospectus that may be obtained from Hafslund Infratek and that will contain detailed information about the Company and management, as well as financial statements and other information relevant to investors.