(Not for distribution in the United States, Canada, Australia or Japan)
Prysmian Spa: Offering Price is Euro 15 Per Share
Milan, 28 April 2007 - Prysmian S.p.A., the parent company of one of the world's leading groups in energy and telecommunications cables and systems, successfully closed the Global Offering of 72,000,000 of its ordinary shares.
The Offering Price of Prysmian S.p.A shares for the Global Offering was established at €15 by the Selling Shareholder, in agreement with the Joint Global Coordinators, based on the amount and quality of the Institutional Investors' interest as well as that resulting from the Italian Public Offering.
The counter-value for each Minimum Lot (of 350 shares), calculated on the basis of the Offering Price is €5,250; the counter-value for each Increased Minimum Lot (of 3,500 shares) amounts to €52,500.
The net proceeds from the Global Offering, based on the Offering Price, after subtracting the maximum commission due to the Consortium managing the Italian Public Offering and the Consortium for the Institutional Offering, will be €1,052 million. If the Greenshoe option is fully exercised, the amount will be €1,210 million.
Based on the Offering Price of €15 per share, the market capitalisation of Prysmian S.p.A. will be €2,700 million.
Payment for shares and commencement of trading are expected to occur on 3 May 2007.
Results of the Global Offering will be made public through notice on 3 May 2007.
Goldman Sachs, JPMorgan and Mediobanca are Joint Global Coordinators of the offering. Mediobanca also acts as Sponsor and Placement Manager for the public offering in Italy.
Labruna Mazziotti Segni and Shearman & Sterling are the Company's legal advisors, d'Urso Munari Gatti and Cleary Gottlieb Steen & Hamilton are the Joint Global Coordinators' legal advisors. PricewaterhouseCoopers have been appointed as external auditors.
Prysmian S.p.A. is the parent company of the group that acquired the shareholdings and business of the Cables & Systems Division of Pirelli & C. S.p.A. in 2005. The group is one of the world's leaders in the energy and telecommunication cables industry with a strong market position in higher added value market segments.
Organised in two business units - Energy Cables & Systems (submarine and terrestrial cables for electricity transmission and distribution) and Telecom Cables & Systems (optical fibres and cables for video, data and voice transmission and copper telecom cables), the Prysmian Group has a global presence with 54 plants and more than 12,000 employees located in 20 countries.
Specialising in the development of products and systems designed on the basis of the client's specific requirements, Prysmian's main competitive strengths include its focus on research and development, ability to innovate its products and production processes, and the use of its own advanced proprietary technologies.
This announcement is not an offer for sale of securities in the United States. The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Prysmian S.p.A does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from Prysmian S.p.A or the selling shareholder and that will contain detailed information about the company and management, as well as financial statements. Copies of this announcement are not being made and may not be distributed or sent into the United States, Canada, Australia or Japan.