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Gerresheimer to float in biggest IPO to date in 2007

Geschrieben am 08.06.2007 - [Nächster Artikel]

Düsseldorf (ots) - This press release or the information contained
herein is not being issued and may not be distributed in the United
States of America, Canada, Japan or Australia.

- Share offering at 40 euros per share
- Offer volume around 1 billion euros
- Free-float after IPO of 80.6 percent (incl. Greenshoe Option)

Gerresheimer AG, a world-leading specialist manufacturer of high
quality glass and plastics for the pharma and life science industry,
and the selling shareholder BCP Murano II S.à r.l. (BCP Murano), an
indirect subsidiary of The Blackstone Group International Limited,
together with the joint global coordinators and joint bookrunners,
Credit Suisse and Morgan Stanley, today set the offer price for
Gerresheimer's Initial Public Offering at 40 euros per share. The
shares are valued at the middle of the pricing range of 37 to 45
euros.

A total of 25.3 million shares were placed in the offer. Of these
shares, 11.4 million shares were from a capital increase, 10.6
million shares were offered by BCP Murano and a further 3.3 million
shares were offered by BCP Murano to the consortium banks to cover a
potential over-allotment (Greenshoe-Option). The placement value
therefore amounts to around 1 billion euros (including the
over-allotment), making Gerresheimer the biggest IPO to date on the
German stock market in 2007. The company will generate gross proceeds
of around 456 million euros from the capital increase. Gerresheimer
intends to use the proceeds to reduce its financial obligations,
thereby enabling it to make future targeted acquisitions and to
accelerate its growth rate.

"We are very pleased with the IPO and see the great interest of
investors as a confirmation of our growth strategy," said Dr. Axel
Herberg, CEO of Gerresheimer AG. "We want to strengthen our position
as one of the world's leading producers and partners for the
pharmaceutical and life science industry."

The free-float of the company amounts to 80.6 percent, assuming a
full exercise of the Greenshoe Option. BCP Murano and the management
of Gerresheimer AG have agreed on a lock-up provision according to
which they will not sell their remaining shares on the open market
during a period of six and 12 months, respectively. The company has
also undertaken not to announce, implement or propose at its
shareholders meeting a capital increase of authorised capital during
this six-month period. These restrictions apply to the distribution
of convertible and option debenture bonds as well as to other similar
financial measures.

Of the 25.3 million shares, about 95.7 percent will be placed with
institutional investors and about 4.3 percent with private investors.
The allocation to private investors was carried out according to the
Stock Market Commission of Experts' Principles for the Allocation of
Share Issues to Private Investors as published on 7 June 2000 by the
German Ministry of Finance. Allocations were made according to
uniform criteria for all underwriting banks. Every third order up to
an allocation of 50 shares receives full allocation. All orders above
this allocation will be allocated with 60 percent.

The shares of Gerresheimer AG have been admitted to the Frankfurt
Stock Exchange and will be traded for the first time in the Prime
Standard segment of the Frankfurt Stock Exchange on 11 June 2007 in
the Prime Standard market. The shares are entitled to full dividend
for the financial year beginning on 1 December 2006. The company's
shares will be listed under the symbol "GXI", the ISIN is
DE000A0LD6E6.

About Gerresheimer

Gerresheimer currently employs around 9,000 people in 31 locations
in Europe, America and Asia. The product range comprises medicine
bottles made of glass and plastic as well as complex drug delivery
systems. The latter include for example pre-fillable sterile
syringes, inhalers and other system solutions for safe dosage and
application of medications. The Gerresheimer Group has a leading
position in a market characterised by technical and regulatory entry
barriers as Gerresheimer's products must meet the highest quality
requirements of international pharmaceutical supervisory authorities.

The Gerresheimer Group generated sales of around EUR 893 million
in 2006 on a pro-forma basis, of which around EUR 247 million was
attributable to the recently acquired Wilden AG, a European market
and technology leader for innovative plastic systems. Pro-forma
adjusted EBITDA for the Gerresheimer Group in 2006 totalled around
EUR 151 million. In the financial year 2007, sales for the -
traditionally weakest - first quarter were around EUR 226 million,
and pro-forma adjusted EBITDA was around EUR 40 million.

This publication serves information purposes and constitutes
neither an offer to sell nor a solicitation to buy securities of
Gerresheimer AG. The securities have already been sold.

This press release does not constitute an offer to sell
securities, or a solicitation of an offer to buy securities, into the
United States. The securities of Gerresheimer AG described herein
have not been and will not be registered under the U.S. Securities
Act of 1933, as amended (the "Securities Act"), 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. Neither Gerresheimer AG nor any selling
shareholder intends to register any portion of the offering in the
United States or conduct a public offering of securities in the
United States.

This communication is directed only at (I) persons who are outside
the United Kingdom or (II) persons having professional experience in
matters relating to investments or (III) high net worth companies and
other persons to whom it may lawfully be committed falling within
article 49(2)(a) to (d) of the Financial Services and Markets Act
2000 (Financial Promotion) Order 2005 (as amended) (all such persons
together being referred to as "Relevant Persons"). Any person who is
not a Relevant Person must not act or rely on this communication or
any of its contents. Any investment or investment activity to which
this communication relates is available only to Relevant Persons and
will be engaged in only with Relevant Persons.

Originaltext: Gerresheimer Group
Digitale Pressemappe: http://presseportal.de/story.htx?firmaid=9072
Pressemappe via RSS : feed://presseportal.de/rss/pm_9072.rss2
ISIN: DE0005873004

Contact
Burkhard Lingenberg
Director Corporate PR & Marketing
Telefon: +49-(0)211/61 81-250
b.lingenberg@gerresheimer.com
 
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