(Not for distribution in the United States, Canada, Australia or Japan)
Prysmian SpA: Offering Over-subscribed by Approximately 4 Times
Milan, 3 May 2007 - The Global Offering of ordinary shares of Prysmian S.p.A. closed successfully today. Prysmian S.p.A. is the parent company of one of the world's leading groups in the energy and telecommunications cables and systems industries. [NB: Please note that the Global Offering is comprised of the Italian Public Offering and the Institutional Placement, which is not “public”]
During the Global Offering, which ended on 27 April, applications were received for the subscription of 278,756,062 shares, for an overall offering of 72,000,000 shares.
On 10 April 2007, Borsa Italiana S.p.A. authorized Prysmian S.p.A. to trade its ordinary shares on the electronic share market (MTA) and on 12 April 2007 Consob authorized the Company to publish its Italian Prospectus for the Italian Public Offering.
In response to the Initial Public Offering, applications were received for the subscription of 278,756,062 shares, by 19,965 applicants, broken down as follows:
- In response to the Italian Public Offering, applications were received for the subscription of 11,459,700 Shares, by 19,735 applicants, broken down as follows:
- 8,264,200 Shares by 18,914 applicants from the general public, through the Minimum Subscription Lot;
- 3,195,500 Shares by 821 applicants from the general public, through the Increased Minimum Lot;
- In response to the Institutional Placement, applications were received for the subscription of 267,296,362 Shares by 230 applicants, broken down as follows:
- 18,118,301 Shares by 43 Professional Investors in Italy;
- 249,178,061 Shares by 187 Institutional Investors abroad.
Based on the applications received during the Global Offering, 82,800,000 Shares have been placed with 19,935 applicants. 72,000,000 of these shares derive from the offering made by Prysmian (Lux) II S.à r.l. and 10,800,000 shares derive from the full exercise of the over-allotment option as defined in the summary information and in the second section, fifth chapter, paragraph 5.2.5 of the Italian Prospectus.
The shares have been broken down as follows:
- In the Italian Public Offering, 11,459,700 Shares were assigned to 19,735 applicants, in the following proportions:
- 8,264,200 shares to 18,914 applicants from the general public, through the Minimum Subscription Lot;
- 3,195,500 Shares to 821 applicants from the general public, through the Increased Minimum Lot;
- 71,340,300 shares were assigned to 200 applicants under Institutional Placement, in the following proportions:
- 4,248,300 Shares to 40 Professional Investors in Italy;
- 67,092,000 Shares to 160 Institutional Investors abroad.
Due to their professional engagement, none of the members of the Consortium for Italian Public Offering and/or none of the members of the Consortium for the Institutional Placement underwrote any Shares.
Prysmian S.p.A. Shares began trading on Thursday, 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.