Together with the existing shareholders and the Joint Bookrunners, Symrise AG set the offer price for the 70,461,181 offered shares of Symrise AG, plus an additional up to 10,569,177 shares to cover a possible over-allotment, at EUR 17.25 per share.
Thus, the offer price is in the upper quartile of the price range from EUR 15.75 to EUR 17.75 per share. 37,800,000 shares originate from a capital increase and 32,661,181 shares from the holdings of the existing shareholders. Including the over-allotment, a total of 81,030,358 shares have been allocated. The offering volume (including the over-allotment) will therefore amount to approximately EUR 1.4 billion making the Symrise IPO the largest in Germany in 2006. The gross issue proceeds to Symrise AG will be approximately EUR 652 million.
As planned, approximately 15% of the offered shares (excluding the over-allotment) have been placed with retail investors.
Prior to the Offering and capital increase EQT III owned approximately 52.0 percent of the share capital. Following the Offering, but prior to exercise of the over-allotment option, EQT III will own approximately 20.7 percent of the share capital. If the over-allotment option is exercised in full, EQT III will own approximately 15.9 percent of the share capital.
Trading on the official market (Prime Standard) of the Frankfurt Stock Exchange commenced today. The initial trading share price was EUR 17.25.
Bjørn Høi Jensen, Senior Partner at EQT Partners said: “Through EQT’s ownership Symrise has evolved into the 4th largest producer of flavours and fragrances, globally. After integrating Haarmann & Reimer and Dragoco, Symrise’s management team has successfully built upon the complementary core competencies and technologies of the two former companies. The management and employees of Symrise, led by Dr Gerold Linzbach, have delivered a successful strategy and excellent results, leading to Symrise today being a strong, global player with further growth potential. We are very happy that the company now will take its next steps as a listed company.”
Dr Gerold Linzbach, Chairman of the Management Board of Symrise AG said: “The IPO of Symrise AG is the logical extension of the growth strategy we have been following since the completion of our successful merger in 2002. We have provided impressive evidence of the effectiveness of our business model and are now entering a new growth phase. We are very happy that the IPO now has been completed.“
This press release is for information purposes only and does not constitute an offer to sell or a solicitation for an offer to buy any securities.
These materials are not an offer of securities for sale 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 in the United States absent registration or pursuant to an available exemption from registration under the Securities Act. Any public offering of securities of Symrise AG to be made in the United States would have to be made by means of a prospectus that could be obtained from Symrise AG and that would contain detailed information about the company and management, as well as financial statements. Neither Symrise AG nor EQT III Fund intends to register any securities referred to herein in the United States.
The information contained herein is not for publication or distribution to persons in the United States of America.