Business
Announcement of offer price
Announcement of offer price.
About this update from Ferrexpo Plc
[{"type":"text","content":"\n Ferrexpo PLC\n15 June 2007\n\n\nTHIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE\nUNITED STATES, CANADA, AUSTRALIA OR JAPAN\n\n\nThis announcement is an advertisement and not a prospectus. Investors should not\nsubscribe for or purchase any transferable securities referred to in this\nannouncement except on the basis of information in the prospectus to be\npublished by Ferrexpo plc (the 'Company') (which is to become the holding\ncompany of the Group, as defined below) in due course in connection with the\nproposed admission of the ordinary shares in the capital of the Company to the\nOfficial List of the Financial Services Authority and to trading on London Stock\nExchange plc's (the 'London Stock Exchange') main market for listed securities\n(the 'Prospectus'). Copies of the Prospectus will, following publication, be\navailable from the Company's registered office.\n\n\n15 June 2007\n\nFerrexpo plc\n('Ferrexpo' or the 'Company')\n\nAnnouncement of Offer Price of 140 pence per Ordinary Share\n\nFerrexpo plc, holding company of the Swiss/Ukrainian iron ore group comprising\nFerrexpo AG and its subsidiaries (the 'Group'), is pleased to announce the\nsuccessful pricing of its initial public offering ('IPO') to institutional\ninvestors in the UK, Europe and elsewhere of Ordinary Shares on the Main Market\nof the London Stock Exchange (the 'Global Offer'). The listing is the first full\nLondon Stock Exchange ('LSE') listing of a company from Ukraine.\n\nThe offer price has been set at 140 pence per Ordinary Share (the 'Offer\nPrice').\n \n • Based on the Offer Price, the market capitalisation of Ferrexpo plc\n immediately following the Global Offer will be approximately £848 million\n (US$1,671 million).\n\n • The Global Offer comprises approximately 72.5 million new Ordinary\n Shares, representing approximately 12% of the 606.1 million Ordinary Shares\n in issue following completion of the Global Offer.\n\n • The total gross proceeds of the Global Offer are expected to be\n approximately £213 million. Of this approximately £111 million will go to\n Fevamotinico S.a r.l., (the 'Selling Shareholder'). The remainder will be\n used by the Company to optimise the extraction of iron ore and maximise\n production of existing operations; for a number of new projects and\n developments to provide ...