• Expected price range set at between €19.00 and €23.00 per Ordinary Share, valuing IMCD Group at a post IPO equity value of € 950 million to € 1,150 million;
• The Offering will consist of the issue of up to 14,214,684 New Offer Shares by the Company to raise approximately €270 million of primary gross proceeds, and the sale of up to 8,257,435 Existing Offer Shares by its current shareholders. The total number of Shares offered (excluding over-allotment option) will amount to up to 20,000,000;
• In addition, the Offering will include an over-allotment option of up to an additional 15% of the total number of Offer Shares issued and transferred in the Offering. The over-allotment option consists of Existing Offer Shares only;
• Within the expected price range, the Offering is valued at up to €380 - €460 million excluding the over-allotment option and at up to €437 - € 529 million assuming full exercise of the over-allotment option;
• Post IPO, IMCD’s total share capital will consist of 50 million Ordinary Shares. As a result, the Offering represents up to 40.0% of IMCD’s total issued share capital excluding the over-allotment option and up to 46.0% assuming full exercise of the over-allotment option following the closing of the Offering;
• The Offering will be made to institutional and retail investors in the Netherlands and to certain institutional investors internationally;
• Offer and subscription period commences at 9:00 a.m. CET today and is expected to end at 2:00 p.m. CET on 26 June 2014;
• Final offer price and determination of the exact number of Shares offered is expected to be announced and allocation is expected to take place on or about 26 June 2014 (subject to acceleration or extension of the timetable of the Offering); and
• Listing of and trading in the ordinary shares (on an “if-and-when-delivered basis”) on Euronext Amsterdam under the symbol “IMCD” are expected to commence on 27 June 2014.
Key investment highlights
• Strong sales, marketing and distribution platform offering value through expertise.
• Diversified and resilient business model based on strong supplier relations and sales force.
• Demonstrated ability to deliver organic and M&A-led growth.
• Strong focus on profitability and cash generation.
• Demonstrated success of management team in building the Company since establishment.
Piet van der Slikke, IMCD’s CEO: “The launch of our IPO today is another step in the process we embarked upon some time ago. We have successfully finished all preparations and the company is fully prepared for life as a listed company. The level of interest we have seen in the investment community is very encouraging, and we look forward to meeting prospective investors and share with them our plans to continue our ambitious growth path. Our goal is to be recognised as a reliable and highly regarded partner for specialty chemicals distribution in our target markets. We believe that our strategy will deliver long-term benefits to all of our stakeholders.”
To read the full press release, please click on the attachment below.