IPO of PhotoCure ASA - change of price range in the offering
The Board of Directors of PhotoCure ASA has decided to change the price range for the offering after consultation with the Managers of the Offering. The new price range is from NOK 115 per share to NOK 155 per share. The total offering amounts to 2,570,000 shares, of which PhotoCure ASA will issue 2,300,000 new shares, and existing shareholders will sell 270,000 shares. Based on the mid point of NOK 135 in the new price range of NOK 115 to NOK 155 per share the subscription amount from the total offering is now of NOK 347 million.
The final price of the offering will be determined on the basis of the outcome of the ongoing institutional book-building, which takes place from May 5 to May 19, 2000, and resolved by the Board of Directors on or about May 20, 2000. The final offer price will be announced around May 22, 2000. The Norwegian retail tranche has a subscribtion period from May 5 to May 18, 2000.
As set out in the Prospectus, PhotoCure ASA has engaged Deutsche Bank, Fondsfinans ASA, Carnegie ASA, and Christiania Markets as Managers. The Managers have been granted an over-allotment option (green shoe), excercisable for 30 calendar days after the date of the listing of the shares on the Oslo Stock Exchange, to purchase at the public offering price up to 230,000 additional shares to be issued by PhotoCure ASA.