Strong Interest in Lindab - shares priced at SEK 110 per share
NOT FOR PUBLICATION OR DISTRIBUTION IN THE UNITED STATES, CANADA, JAPAN OR AUSTRALIA
This announcement is not an offer for sale of shares in Lindab. Shares in Lindab have not been registered under the U.S.Securities Act of 1933, as amended (the "Securities Act" ) and may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the Securities Act. Any public offering of shares in Lindab will be made by means of a prospectus that may be obtained from Lindab and that will contain detailed information about Lindab and management, as well as financial statements. Lindab and the selling shareholders do not intend to register the securities or conduct a public offering in the United States.
1 December 2006
- The final offer price per share has been determined to SEK 110
- The offering was approximately 7 times subscribed
- Trading in Lindab's shares on the Stockholm Stock Exchange will commence today, 1 December 2006, under the trading symbol "LIAB"
There has been strong interest in purchasing shares in Lindab, manufacturer of construction and ventilation systems in steel and sheet metal. The offering comprised 35,418,519 shares and was approximately 7 times subscribed. The final offer price of SEK 110 per share corresponds to a total market capitalisation for Lindab of SEK 8,658 million. After completion of the offering, Lindab will have more than 10,000 shareholders.
Lindab's principal owners Ratos, the Sixth AP Fund and Skandia Liv have granted the managers an option, exercisable within 30 days from the first day of trading, whereby the managers can purchase up to 3,935,391 additional shares to cover any over-allotments in the offering.
Ratos will remain the largest owner with approximately 22.5 % of the shares and votes (assuming the over-allotment option described above is exercised in full) followed by Skandia Liv and the Sixth AP Fund with 11 % each. Ratos, the Sixth AP Fund and Skandia Liv, have also agreed not to sell any additional shares in Lindab for a period of nine months as from today.
Ratos will remain the largest owner with approximately 22.5 % of the shares and votes (assuming the over-allotment option described above is exercised in full) followed by Skandia Liv and the Sixth AP Fund with 11 % each. Ratos, the Sixth AP Fund and Skandia Liv, have also agreed not to sell any additional shares in Lindab for a period of nine months as from today.
"The investors we have met during the past few weeks have shown strong interest in our business," says Lindab's CEO Kjell Åkesson. "We have always had strong relations with our customers, now we look forward to delivering the results and growth that both our customers and other stakeholders expect."
Handelsbanken Capital Markets and Morgan Stanley & Co. International Limited acted as joint global coordinators and joint book runners for the offering. SEB Enskilda acted as Co-lead managers.
Ends
Contacts:
LINDAB
Kjell Åkesson, CEO
Email: kjell.akesson@lindab.com
Tel. +46 (0)431 850 00
Nils-Johan Andersson, CFO
Tel. +46 (0)431 850 00
Anders Person, HR & IR director
Tel. +46 (0)431 850 00
Editors Notes:
Lindab is an international group that develops, manufactures and markets sheet metal products and system solutions for the construction sector.
The two main business areas are Ventilation and Profile.
The Profile business area focuses on the construction industry, offering an extensive range of construction components and complete building systems for both commercial and residential properties.
The Ventilation business area focuses on the ventilation industry, offering components and systems solutions, with the main products falling under the area of circular duct systems and indoor climate systems.
The Lindab group has approximately 4,500 employees in 28 countries and generated sales of SEK 6,214 million in 2005. Its head office is located in Grevie near Bastad in southwestern Sweden.