Roermond, the Netherlands – 11 May 2016. Sif Holding N.V. (“Sif”), a leading manufacturer of large steel tubulars which are used as foundation components for the offshore wind and offshore oil & gas markets, today announces that its ordinary shares (the “Placing Shares”) offered in the placement (the “Placement”) have been priced at EUR 14.00 per Placing Share (the “Offer Price”). The offer is limited to private placements to certain institutional investors in the Netherlands and various other jurisdictions. Listing and first trading of Sif’s issued ordinary shares (“Shares”) (on an “if-and-when-issued” basis) on Euronext Amsterdam is expected to commence tomorrow, Thursday 12 May 2016.
Placement Highlights
- Price per Placing Share set at EUR 14.00, implying a total value of all Shares in Sif of approximately EUR 357 million;
- In connection with the Placement, 8 million existing Shares will be allocated to investors that have subscribed to the Placement, representing a total size of the Placement of EUR 112 million, or 31% of Sif’s ordinary shares, excluding the over-allotment option;
- In addition, the Placement includes an over-allotment option of up to an additional 10% of the total number of Shares offered in the Placement;
- If the over-allotment option is exercised in full, the Shares transferred to investors will represent 35% of the total issued share capital of Sif following the closing of the Placement;
- Listing and first trading of the Shares (on an “if-and-when-issued” basis) on Euronext Amsterdam under the ticker symbol “SIFG” will commence tomorrow, Thursday 12 May 2016 (the “First Trading Date”);
- Closing and settlement of the Placement (the “Settlement Date”) and the start of unconditional trading in the Shares is expected to take place on Monday 16 May 2016;
- This press release also serves as the pricing statement relating to the Placement and has been filed with the Netherlands Authority for the Financial Markets (Stichting Autoriteit Financiële Markten, the “AFM”), as defined in Article 5:18, paragraph 2 of the Dutch Financial Supervision Act.
- This press release is also available via the website of Sif (www.sif-group.com).
Jan Bruggenthijs, CEO of Sif: “We are pleased to complete the listing process, having received positive feedback and interest from the institutional investment community. It has been an intensive process and the successful listing confirms our attractive business model, offering high visibility, flexibility and capital efficiency. We look forward to executing our growth strategy as a leading manufacturer of large steel tubular foundation components for the offshore wind and offshore oil & gas industries. We welcome our new shareholders and thank them for their trust in Sif and its management.”
