DKSH (SIX: DKSH), the leading Market Expansion Services provider with a focus on Asia, announced today that a number of DKSH's strategic shareholders as well as members of the DKSH management team have successfully sold a total of 4 million registered shares of DKSH Holding AG through an accelerated bookbuilding, which took place overnight.
Media release
Zurich, Switzerland, April 25, 2013 – DKSH (SIX: DKSH), the leading Market Expansion Services provider with a focus on Asia, announced today that a number of DKSH's strategic shareholders as well as members of the DKSH management team have successfully sold a total of 4 million registered shares of DKSH Holding AG through an accelerated bookbuilding, which took place overnight.
The share placing was priced at CHF 78.50 per registered DKSH share, representing a discount of 4.8% to the previous day closing price and is scheduled to settle on April 30, 2013.
The shares were placed with existing shareholders as well as new international institutional investors. The purpose of the broadly distributed placing was to address investor requirements for a more liquid market in DKSH's shares.
Post the share placement, DKSH's free float increased from c. 35% to c. 40%, corresponding to a free float market capitalization of CHF 2.1 billion. The increase in free float is also expected to have a positive influence on the inclusion of DKSH in various indices.
The majority of the shares placed was provided by the current strategic investors. For these shareholders the banks have exclusively waived the existing lock-up for the number of shares sold. All other shares held by the strategic shareholders remain subject to the original lock-up, which was agreed at the time of the IPO and continues to run until September 21, 2013. Diethelm Keller Holding as a representative of the family shareholders has not participated as they remain a long-term, strategic anchor shareholder, as communicated at several occasions.
UBS acted as Sole Global Coordinator and Joint Bookrunner alongside Credit Suisse.
Peter Guenthardt, CEO UBS Investment Bank Switzerland and Marco Illy, Head Investment Bank Switzerland at Credit Suisse, comment: „We are pleased with the outcome of the offering. It improves the market liquidity in the DKSH shares, making them more attractive to a broader range of investors. Furthermore, it was positive to have the support by the existing shareholders of DKSH who actively participated in this transaction.”
For further information please contact:
DKSH Holding Ltd. | |
Till Leisner Head, Group Investor & Media Relations Phone +41 44 386 7315 till.leisner@dksh.com | Dominique Nadelhofer Manager, Group Media Relations Phone +41 44 386 7228 dominique.nadelhofer@dksh.com |
About DKSH Group
DKSH is the leading Market Expansion Services provider with a focus on Asia. As the term “Market Expansion Services” suggests, DKSH helps other companies and brands to grow their business in new or existing markets.
Publicly listed on the SIX Swiss Exchange since March 2012, DKSH is a global company headquartered in Zurich. With 680 business locations in 35 countries – 660 of them in Asia – and 25,900 specialized staff, DKSH generated net sales of CHF 8.8 billion in 2012.
The company offers a tailor-made, integrated portfolio of sourcing, marketing, sales, distribution, and after-sales services. It provides business partners with expertise as well as on-the-ground logistics based on a comprehensive network of unique size and depth. Business activities are organized into four specialized Business Units that mirror DKSH fields of expertise: Consumer Goods, Healthcare, Performance Materials, and Technology.
With strong Swiss heritage, the company has nearly a 150-year-long tradition of doing business in and with Asia, and is deeply rooted in communities and businesses across Asia Pacific.