EQS Group-News: Dynamics Group AG / Key word(s): IPO
Aluflexpack AG launches IPO on SIX and sets price range at CHF 20.00 to CHF
26.00 per share
2019-06-17 / 07:00
Press release
Reinach (Aargau), 17 June 2019
*Aluflexpack AG launches IPO on SIX and sets price range at CHF 20.00 to CHF
26.00 per share*
· The IPO comprises a base offering for up to 7,300,000 new shares and a
Greenshoe option of up to 730,000 shares from Montana Tech Components AG,
the current sole (and the future majority) shareholder[1]
· The price range was set at CHF 20.00 to 26.00, amounting to a total
issuance volume of approximately CHF 146.0 million to CHF 168.2 million in
the base offering, and approximately CHF 160.6 million to CHF 185.0
million in case the Greenshoe option is fully exercised
· Expected free float after the IPO - assuming the Greenshoe option is
fully exercised - of up to approx. 46.4 per cent
· The offer will commence on 17 June 2019, and is expected to conclude on
27 June 2019 at 12:00 (noon) CEST
· First trading day of the shares at SIX Swiss Exchange is envisaged for
28 June 2019
Together with its sole shareholder, Montana Tech Components AG ("Montana"),
and Joh. Berenberg, Gossler & Co KG, Aluflexpack AG has determined the terms
of the planned listing in the International Reporting Standard of the SIX
Swiss Exchange. The price range for the shares offered was set at CHF 20.00
to CHF 26.00 per share. The final offer price will be determined on the
basis of a bookbuilding process, which will be launched today.
The IPO consists of a public offer in Switzerland and private placements to
qualified investors in certain jurisdictions outside Switzerland. The
bookbuilding process will begin today, 17 June 2019, and is expected to
conclude on 27 June 2019, at 12:00 (noon) CEST. The announcement of the
final offer price is expected to take place on 28 June 2019. On the same
day, the listing and the commencement of the trading of the shares on the
SIX are envisaged to take place.
Igor Arbanas, CEO of Aluflexpack AG, says: "We are well positioned in
selected fast growing markets with our high quality products and services,
and have access to a deep and integrated value chain. The successful
implementation of our strategy is also reflected in the positive development
of our results. We are pleased to not only see interest from our customers
to further develop our business but also see numerous additional market
opportunities - and on this high growth potential we wish to capitalize.
Against this background, we look forward to the next exchange with the
investors."
*Targeted issuance volume of CHF 146.0 to CHF 168.2 million (approx. EUR
130.0 million to EUR 150.0 million)*
The base offering comprises up to 7,300,000 new shares, which are to be
issued in a capital increase. However, primary gross proceeds from the base
offering are capped at approx. EUR 150.0 million, _i.e._, the number of new
shares to be issued will be downward adjusted depending on the final offer
price. The current sole shareholder, Montana Tech Components, will provide
up to 730,000 existing shares for potential over-allotments (capped at 10%
of the aggregate number of new shares sold in the offering), totaling up to
8,030,000 offered shares. The total offer volume thus amounts to approx. CHF
146.0 million to CHF 168.2 million in the base offering, and CHF 160.6
million to CHF 185.0 million if the Greenshoe option is fully exercised.
Assuming the placement of all the offered shares and a fully-exercised
Greenshoe option, a free float of up to 46.4 per cent of the share capital
is expected.
*Issuance proceeds to accelerate growth*
The proceeds raised by Aluflexpack AG are intended primarily to expand
production capacity in Europe, automate production and target company
acquisitions. Shareholder loans already granted to pre-finance these growth
initiatives will be repaid. Approximately EUR 30 million are to be invested
in the expansion of existing production capacities for stand-up pouches.
Another EUR 30 million would be invested in additional capacities at other
production sites and occasionally in efficiency and automation facilities.
It is also planned to spend around EUR 80 million on value-added
acquisitions in Asia, Europe, the MENA region and North America, of which a
low double-digit euro million amount was already invested for the
acquisition of the Turkish company Arimpeks in September 2018 and was
pre-financed by the existing shareholder via shareholder loans.
A lock-up period of 12 months is agreed with the Company, as well as with
Igor Arbanas, CEO of Aluflexpack AG, Johannes Steurer, CFO of Aluflexpack
AG, and Martin Ohneberg, Chairman of the Board of Directors of Aluflexpack
AG. Montana is subject to a 24 months lock-up.
Trading in the International Reporting Standard segment of the SIX Swiss
Exchange is scheduled to commence on 28 June 2019 - under the Swiss
Securities Number (Valor) 45322689 and the International Securities
Identification Number (ISIN) CH0453226893. Copies of the Offering Memorandum
and of the Supplement are available free of charge in Switzerland from
Zürcher Kantonalbank, Bahnhofstrasse 9, 8001 Zurich, Switzerland (email:
prospectus@zkb.ch). In addition, copies of the Offering Memorandum and of
the Supplement are and will be available free of charge in Switzerland from
Aluflexpack AG, Alte Aarauerstrasse 11, 5734 Reinach (AG), Switzerland
(email: lukas.kothbauer@aluflexpack.com).
Joh. Berenberg, Gossler & Co KG acts as sole global coordinator and joint
bookrunner for the transaction, with Zürcher Kantonalbank AG as joint
bookrunner, and Raiffeisen Centrobank AG as co-lead manager.
=---
_[1] Primary gross proceeds capped at approx. EUR 150.0 million, i.e.,
number of new shares to be downward adjusted depending on the final offer
price; number of shares available for Greenshoe option not to exceed 10% of
aggregate number of new shares sold in the offering._
Media contacts
Dynamics Group AG
Andreas Durisch / Thomas Balmer
adu@dynamicsgroup.ch / tba@dynamicsgroup.ch
+41 43 268 32 32
*About Aluflexpack AG:*
Aluflexpack AG (Aluflexpack) is a 100 % subsidiary of Montana Tech
Components AG. Aluflexpack produces flexible packaging solutions mainly for
end markets such as coffee/tea, pharmaceuticals, pet food, confectionery and
dairy. Well-established insights, service flexibility and innovative
strength are what underpin long-term customer relationships; both with
locally operating companies and large international corporations.
Aluflexpack, headquartered in Reinach (AG), Switzerland, has production
facilities in Switzerland, France and Turkey and four production facilities
in Croatia. The number of employees as of March 31, 2019 was approximately
1,150. www.aluflexpack.com [1]
*Disclaimer*
The information contained herein is not for release, directly or indirectly,
in or into the United States of America, Canada, Australia, Japan or any
other jurisdiction where to do so would be unlawful. This document (and the
information contained herein) does not contain or constitute an offer of
securities for sale, or solicitation of an offer to purchase securities, in
Canada, Australia or Japan or any other jurisdiction where such an offer or
solicitation would be unlawful. In particular, this document is not an offer
of securities for sale in the United States. Securities may not be offered
or sold in the United States absent registration under the U.S. Securities
Act of 1933, as amended (the "Securities Act"), or an exemption from
registration. The securities referred to herein have not been and will not
be registered under the Securities Act. No public offering of the securities
will be made in the United States.
This communication is not being distributed to, and must not be passed on
to, the general public in the United Kingdom. This announcement is made to
and is directed only at persons in the United Kingdom having professional
experience in matters relating to investments who fall within the definition
of "investment professionals" in Article 19(5) or are high net worth
companies, unincorporated associations etc falling within Article 49(2), in
each case of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005, and to those persons to whom it can otherwise
lawfully be distributed (all such persons together being referred to as
"relevant persons"). This communication and the securities referred to
herein are, and will be made, available only to, and any invitation, offer
or agreement to subscribe, purchase or otherwise acquire such securities
will be engaged in only with, such relevant persons. No other person should
rely or act upon it. This communication is not intended for distribution to
and must not be passed on to any retail client.
Statements contained herein may constitute "forward-looking statements".
Forward-looking statements are generally identifiable by the use of the
words "may", "will", "should", "plan", "expect", "anticipate", "estimate",
"believe", "intend", "project", "goal" or "target" or the negative of these
words or other variations on these words or comparable terminology.
Forward-looking statements involve a number of known and unknown risks,
uncertainties and other factors that could cause Aluflexpack AG's or its
industry's actual results, levels of activity, performance or achievements
to be materially different from any future results, levels of activity,
performance or achievements expressed or implied by such forward-looking
statements. Aluflexpack AG does not undertake publicly to update or revise
any forward-looking statement that may be made herein, whether as a result
of new information, future events or otherwise.
This communication is not an issuance or listing prospectus or a similar
document in the sense of article 652a, article 752 and/or article 1156 of
the Swiss Code of Obligations or articles 27 et seq. of the Listing Rules of
the SIX Swiss Exchange and was not reviewed by any competent authority. Any
offer of securities of Aluflexpack AG will be made solely by means of, and
on the basis of, an offering memorandum that will contain detailed
information about the Company and its management as well as risk factors and
financial statements. Any person considering the purchase of any securities
of Aluflexpack AG must inform itself independently based solely on such
offering memorandum (including any supplement thereto). Investors are
furthermore advised to consult their bank or financial adviser before making
any investment decision.[1] Primary gross proceeds capped at approx. EUR
150.0 million, i.e., number of new shares to be downward adjusted depending
on the final offer price; number of shares available for Greenshoe option
not to exceed 10% of aggregate number of new shares sold in the offering.
End of Corporate News
825243 2019-06-17
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(END) Dow Jones Newswires
June 17, 2019 01:00 ET (05:00 GMT)
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