Strong interest to subscribe for shares in Scandinavia Online
STRONG INTEREST TO SUBSCRIBE FOR SHARES IN SCANDINAVIA ONLINE OFFER IS MORE THAN FIVE TIMES SUBSCRIBED PRICE SET AT SEK 115 PER SHARE Stockholm/Oslo, June 7, 2000: The interest to subscribe for shares in Scandinavia Online AB's IPO has been strong among institutional as well as private investors. The offer comprising 7,600,000 shares was subscribed more than five times. The price has been set at SEK 115 per share through a bookbuilding procedure. The proceeds of the issue of new shares, comprising 7,600,000 shares, will be approximately SEK 874 million prior to transaction costs. In addition, the underwriters have an option to subscribe for an additional 1,140,000 shares to cover over allotment. The total number of shareholders will be approximately 4,500 at the time of listing. Scandinavia Online's principal owners, Schibsted, Telia and Telenor, will subsequent to the offer hold approximately 36, 26 and 18 percent, respectively, of the total number of shares and votes in the company. "Scandinavia Online has encountered great interest from high quality investors, both in the Nordic region and internationally," says Birger Steen, Chief Executive Officer of Scandinavia Online. "The fact that we have succeeded in executing our IPO in spite of the prevailing difficult market conditions indicates great confidence in the Company." Payment is due on June 13, 2000 and the first day of trading is expected to be on June 7, 2000 at the OM Stockholm Exchange and at the Oslo Stock Exchange. Goldman Sachs International is acting as Global Co-ordinator and sole bookrunner in connection with the offering. Carnegie, Schroder Salomon Smith Barney and UBS Warburg are acting as co-lead managers. Carnegie is acting as retail manager in Sweden and Norway. For more information, contact: Birger Steen (CEO), +46 709 35 28 18 Thomas Ranje (CFO), +46 709 41 54 94 This press release is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from the registration under the United States Securities Act of 1933 (the "Securities Act"). The Company's shares have not and will not be registered under the Securities Act. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/06/07/20000607BIT00230/bit0001.doc http://www.bit.se/bitonline/2000/06/07/20000607BIT00230/bit0002.pdf