The Board of Directors of Kemira Oyj has decided that a total of 15,789,644 Shares will be sold in the offering of Kemira GrowHow Oyj shares. The Shares offered to investors correspond to 27.6 percent of the outstanding shares of Kemira GrowHow Oyj.
It was decided that the offer price in the Institutional Offering and in the Retail Offering is EUR 5.25.
The Institutional Offering was about 12 times subscribed and the Retail Offering was about 1.8 times subscribed. About 25 percent of the Shares in the Offering were allocated to Finnish investors and about 75 percent to foreign investors. Kemira GrowHow Oyj's management met with over 100 institutional investors in eight different countries.
It was decided that 13,924,644 Shares will be sold to institutional investors. It was decided that 1,865,000 Shares will be sold to retail investors. Over 4,300 subscriptions were made in the Retail Offering. In the retail offering, full allocation was given to investors with purchase orders of up to 300 shares. For the amounts exceeding 300 shares, investors in the retail offering were allocated approximately 37 percent of the amount indicated in the purchase order.
The Helsinki Stock Exchange has decided that the size of the round lot of Kemira GrowHow Oyj's shares is 100 shares.
Kemira Oyj has granted Alfred Berg/ABN AMRO Rothschild on behalf of the managers, an option exercisable at any time within thirty days after the determination of the offer price to purchase up to an aggregate 2,860,443 additional shares of the company solely to cover over-allotments at the price EUR 5.25 per share less a combined underwriting and selling commission. If this option is used the ownership of Kemira Oyj in Kemira GrowHow Oyj shares and votes will decline to 14.9 percent. The managers of the Offering received a combined underwriting and selling commission of EUR 0.07875 per share for arranging the share Offering. Additionally Kemira Oyj may at its sole discretion pay the managers an incentive fee of up to EUR 0.02625 per share.
Participants in the Institutional Offering will be sent a confirmation of the accepted subscriptions on October 14, 2004.
Participants in the Retail Offering will be sent a confirmation of accepted subscriptions on or about October 14, 2004.
Subscription payments in excess of allocated amounts will be returned to the bank accounts of subscribers by October 19, 2004 at the latest.
The listing of the shares of Kemira GrowHow Oyj is scheduled to begin on the Prelist of the Helsinki Exchanges on October 14, 2004 and on the Main List on October 18, 2004.
Additional information:
Kemira Oyj
Esa Tirkkonen, debuty CEO, CFO
tel. +358 (0)10 862 1500, gsm +358 (0)50 502 2738
Kemira GrowHow Oyj
Kaj Friman, deputy CEO, CFO
tel. +358 (0)10 862 1704, gsm +358 (0)50 62 626
The information contained herein is not for publication or distribution into the United States. The material set forth herein is for informational purposes only and is not intended, and should not be construed, as an offer of securities for sale into the United States. The securities described herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or the laws of any state, and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state laws. There is no intention to register any portion of the offering in the United States or to conduct a public offering of securities in the United States.
The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities referred to herein, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities law of any such jurisdiction. FSA/Stabilisation.