Troax Group AB (publ) (“Troax” or the “Company”), a leading
global supplier of indoor perimeter protection, and FSN Capital III
Limited Partnership (“FSN”) today announces the outcome of the
initial public offering (the “Offering”) of the Company’s shares
and listing on Nasdaq Stockholm.
The Offering attracted very strong interest both from Swedish
and international institutional investors as well as the general
public in Sweden. The Offering was substantially
over-subscribed.
NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR
INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA,
SWITZERLAND, SOUTH AFRICA, SINGAPORE, HONG KONG OR JAPAN, OR ANY
OTHER JURISDICTION IN WHICH THE PUBLICATION, DISTRIBUTION OR
RELEASE WOULD BE UNLAWFUL.
Hillerstorp 27 March 2015, 07.00 CE
Regulatory News:
The Offering in brief
- The final Offering price has been set
at SEK 66 per share, corresponding to a market value of Troax of
SEK 1,320 million.
- The Offering comprises of 10,713,507
existing shares in Troax offered primarily by the Company’s current
principal owner FSN, corresponding to 54 percent of the total
number of shares in the Company.
- FSN has granted an over-allotment
option of up to 1,607,026 additional shares, corresponding to up to
15 percent of the total number of shares in the Offering
(approximately 8 percent of total number of shares in the
Company).
- If the over-allotment option is fully
exercised, the Offering will comprise a total of 12,320,533 shares,
corresponding to approximately 62 percent of the total number of
shares in the Company.
- The total value of the Offering amounts
to SEK 813 million, assuming that the over-allotment option is
exercised in full.
- Following completion of the Offering,
FSN will hold approximately 18 percent of the shares, assuming that
the over-allotment option is exercised in full.
- Approximately 4,500 investors have been
allotted shares in Troax.
- Trading in the Troax share on Nasdaq
Stockholm commences today, 27 March 2015, under the trading symbol
“TROAX”.
Thomas Widstrand, CEO of Troax says:
“The interest from investors, both in Sweden and
internationally, has been large. We are happy and of course
very proud of the whole Troax Group. We welcome our new
shareholders and look forward to continue our journey as a listed
company.”
Peter M�ller, Partner at FSN Capital says:
“The strong interest in this IPO is exciting and should vouch
for a good start for Troax as a listed company. Together with the
impressive list of investors that have become owners of Troax, we
will do our best to continue to support the Company following the
IPO.”
Advisors
Carnegie Investment Bank is acting as Global Coordinator and
Joint Bookrunner in the Offering and Handelsbanken Capital Markets
is acting as Joint Bookrunner. Baker & McKenzie is legal
adviser to the Company and the Principal Shareholder. White &
Case is legal adviser to the Global Coordinator and Joint
Bookrunners.
About Troax
Troax is the leading global supplier of indoor perimeter
protection (“metal-based mesh panel solutions”) for the market
segments: Automation & Robotics, Material Handling &
Logistics and Property Protection.
Troax develops high quality and innovative safety solutions to
protect people, property and processes. Troax Group AB (publ), Reg.
No. 556916-4030, has a global organisation with an unparalleled
sales force and efficient logistics setup, enabling local presence
and short delivery times in 31 countries. In 2014 Troax net sales
amounted to around EUR 90 million and the number of employees
amounted to about 400 persons. The Company’s head office is located
in Hillerstorp, Sweden.
About FSN Capital
Since inception in 2000, FSN Capital’s funds have raised EUR 1.1
billion in total commitments and have to date made 23 platform
investments in medium sized Nordic companies with the aim to create
value through growth initiatives and operational improvements.
Among current and past investments are Kjell & Company,
Instalco, Actic, Aura Light and CTEK.
For additional information, please visit
www.troax.com or contact:
Thomas Widstrand, CEOPhone: +46 370 828 31
Important information
This announcement is not and does not form a part of any offer
for sale of securities. Copies of this announcement are not being
made and may not be distributed or sent into the United States,
Australia, Canada, Japan or any other jurisdiction in which such
distribution would be unlawful or would require registration or
other measures. The securities referred to in this announcement
have not been and will not be registered under the U.S. Securities
Act of 1933, as amended (the “Securities Act”), and accordingly may
not be offered or sold in the United States absent registration or
an exemption from the registration requirements of the Securities
Act and in accordance with applicable U.S. state securities laws.
The Company does not intend to register any offering in the United
States or to conduct a public offering of securities in the United
States. Any offering of the securities referred to in this
announcement will be made by means of a prospectus. This
announcement is not a prospectus for the purposes of Directive
2003/71/EC (together with any applicable implementing measures in
any Member State, the “Prospectus Directive”). Investors should not
invest in any securities referred to in this announcement except on
the basis of information contained in the aforementioned
prospectus. In any EEA Member State other than Sweden that has
implemented the Prospectus Directive, this communication is only
addressed to and is only directed at qualified investors in that
Member State within the meaning of the Prospectus Directive, i.e.,
only to investors who can receive the offer without an approved
prospectus in such EEA Member State. This communication is only
being distributed to and is only directed at persons in the United
Kingdom that are (i) investment professionals falling within
Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005, as amended (the “Order”) or (ii)
high net worth entities, and other persons to whom this
announcement may lawfully be communicated, falling within Article
49(2)(a) to (d) of the Order (all such persons together being
referred to as “relevant persons”). This communication must not be
acted on or relied on by persons who are not relevant persons. 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. Persons distributing this
communication must satisfy themselves that it is lawful to do so.
Matters discussed in this announcement may constitute
forward-looking statements. Forward-looking statements are
statements that are not historical facts and may be identified by
words such as “believe,” “expect,” “anticipate,” “intends,”
“estimate,” “will,” “may,” "continue," “should” and similar
expressions. The forward-looking statements in this release are
based upon various assumptions, many of which are based, in turn,
upon further assumptions. Although Troax believes that these
assumptions were reasonable when made, these assumptions are
inherently subject to significant known and unknown risks,
uncertainties, contingencies and other important factors which are
difficult or impossible to predict and are beyond its control. Such
risks, uncertainties, contingencies and other important factors
could cause actual events to differ materially from the
expectations expressed or implied in this release by such
forward-looking statements. The information, opinions and
forward-looking statements contained in this announcement speak
only as at its date, and are subject to change without notice.
Thomas WidstrandPresident and CEOTroax Group ABBox 89330
33 Hillerstorp+46
(0)370-82831http://www.troax.comthomas.widstrand@troax.com
About Troax
Troax is the leading global supplier of indoor perimeter
protection (“metal-based mesh panel solutions”) for the market
segments: Automation & Robotics, Material Handling &
Logistics and Property Protection.
Troax develops high quality and innovative safety solutions to
protect people, property and processes.
Troax Group (publ), Reg. No. 556916-4030,
has a global organisation with an unparalleled sales force and
efficient logistics setup, enabling local presence and short
delivery times in 31 countries. In 2014 Troax net sales amounted to
around EUR 90 million and the number of employees amounted to about
400 persons. The Company’s head office is located in Hillerstorp,
Sweden.
www.troax.com
This information was brought to you by Cision
http://news.cision.com
Troax Group ABThomas Widstrand, +46 (0)370-82831President and
CEOthomas.widstrand@troax.com