Orkla confirms intention to list Gränges on NASDAQ OMX Stockholm
NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, JAPAN OR AUSTRALIA
Orkla ASA (OSE:ORK) confirms its intention to proceed with an Initial Public Offering (the "Offering") of the shares of Gränges AB (publ).
NASDAQ OMX Stockholm has today decided to admit the Company's shares to trading, subject to customary conditions, such as that a prospectus is approved by the Swedish Financial Supervisory Authority as well as that the distribution requirements in respect of the Company's shares being fulfilled no later than on the first day of trading. Depending on market conditions, the listing is expected to be completed during the fourth quarter of 2014.
The Offering comprises existing shares sold by Orkla Industriinvesteringar AB. The shares will be offered to qualified institutional investors in Sweden and internationally as well as to the public in Sweden and Norway.
Carnegie and SEB are acting as Joint Global Coordinators and Joint Bookrunners. Danske Bank and Svenska Handelsbanken are acting as Joint Bookrunners.
The press release issued by Gränges in relation to the intention to float is attached hereto.
Further announcements relating to the Offering will be made in due course.
Orkla ASA,
Oslo, 10 September 2014
For further information, please contact:
Rune Helland, SVP Investor Relations
Tel: +47 97 71 32 50
About Gränges
Gränges is a leading global supplier of rolled products for producers of brazed aluminum heat exchangers. The Company develops, produces and markets highly advanced materials that enhance both the production economy of the customer manufacturing process as well as the performance of the final product, the brazed heat exchanger
Gränges has its headquarters in Stockholm, Sweden and operates in three geographical regions: Europe, Asia and the Americas. The Company operates production, research and development facilities in Finspång and Shanghai with total annual capacity of approximately 210,000 metric tonnes.
The Company was originally founded in 1896, and the current operation was started in 1972 when the Company started to develop brazed heat exchanger material.
Gränges has approximately 1,000 employees, and in 2013 the Company had net sales of SEK 4,642 million.
NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, JAPAN OR AUSTRALIA
DISCLAIMERS
This announcement is not an offer to buy any securities issued by Gränges AB (publ) (the "Company") in any jurisdiction where such offer or sale would be unlawful.
In any EEA Member State, other than Sweden and Norway, that has implemented Directive 2003/71/EC as amended (together with any applicable implementing measures in any member State, the "Prospectus Directive"), this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Directive.
This document and the information contained herein are not for distribution in or into the United States of America. This document does not constitute an offer to sell, or a solicitation of an offer to purchase, any securities in the United States. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold within the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There is no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States.
In the United Kingdom, this document and any other materials in relation to the securities described herein is only being distributed to, and is only directed at, and any investment or investment activity to which this document relates is available only to, and will be engaged in only with, "qualified investors" (as defined in section 86(7) of the Financial Services and Markets Act 2000) and who are (i) persons having professional experience in matters relating to investments who fall within the definition of "investment professionals" in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"); or (ii) high net worth entities falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). Persons who are not relevant persons should not take any action on the basis of this document and should not act or rely on it.
Any offering of securities will be made by means of a prospectus that may be obtained from the issuer or selling security holder and that will contain detailed information about the Company and management, as well as financial statements. This document is an advertisement and not a prospectus for the purposes of the Prospectus Directive. Investors should not subscribe for any securities referred to in this document except on the basis of information contained in the prospectus.
Matters discussed in this release may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe," "expect," "anticipate," "intends," "estimate," "will," "may," "continue," "should" and similar expressions. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements.
The information, opinions and forward-looking statements contained in this release speak only as at its date, and are subject to change without notice.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.