LEHTO GROUP PLC'S INITIAL PUBLIC OFFERING HAS BEEN OVERSUBSCRIBED AND THE SUBSCRIPTION PERIOD DISCONTINUED
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LEHTO GROUP PLC'S INITIAL PUBLIC OFFERING HAS BEEN OVERSUBSCRIBED AND THE
SUBSCRIPTION PERIOD DISCONTINUED
The initial public offering ("Initial Public Offering" or "IPO", as further
defined below) of Lehto Group Plc ("Lehto Group" or "Company") has been
oversubscribed multiple times and the Company's Board of Directors have
therefore decided to discontinue the subscription period of the institutional
offering, the public offering and the share sale as of today 22 April 2016 at
6.00 p.m. EET in accordance with the terms and conditions of the IPO.
The Initial Public Offering consisted of a share issue to institutional
investors in Finland and internationally ("Institutional Offering"), to private
individuals and organisations in Finland ("Public Offering") as well as to the
personnel of the Company in Finland ("Personnel Offering", and together with the
Institutional Offering and the Public Offering, "Share Issue"). In addition, in
the IPO certain shareholders of the Company ("Selling Shareholders")
preliminarily offered for purchase shares ("Sale Shares", and together with the
Issue Shares, "Offer Shares") to institutional investors in Finland and
internationally ("Share Sale", and together with the Share Issue, "Initial
Public Offering" or "IPO").
The subscription period for the Initial Public Offering commenced on 13 April
2016 at 9.00 a.m. EET. The subscription period for the Personnel Offering
expired on 20 April 2016 at 6.00 p.m. EET.
The Company's Board of Directors and Selling Shareholders will decide on the
acceptance of subscriptions made in the IPO, the final subscription price and
the number of Offer Shares on or about 27 April 2016.
The discontinuation of the subscription period does not otherwise affect the IPO
timetable. The Offer Shares issued in the Public Offering and the Personnel
Offering are recorded in the book-entry accounts of investors who have made an
accepted commitment on or about 28 April 2016. In the Institutional Offering,
the Offer Shares will be ready to be delivered against payment on or about 2 May
2016 through Euroclear Finland Ltd. Trading of the Company's shares on the
prelist of Nasdaq Helsinki Ltd is expected to commence on or about 28 April
2016 and on the official list on or about 2 May 2016. The shares will trade
under the symbol "LEHTO".
OP Corporate Bank plc acts as the Global Coordinator and Joint Bookrunner and
Pareto Securities Oy as Joint Bookrunner (together, "Bookrunners"). Krogerus
Attorneys Ltd acts as the legal advisor of the Company. Roschier, Attorneys Ltd.
acts as the legal advisor of the Bookrunners.
Lehto Group Plc
Pertti Huuskonen, the chairman of the Board of Directors
Hannu Lehto, CEO
More information:
Veli-Pekka Paloranta, CFO tel. +358 400 944 074
Pertti Huuskonen, the chairman of the Board of Directors, tel. +358 400 680 816
Lehto Group in brief
Lehto Group is a Finnish construction and real estate group focusing on
economically driven construction. The Company's mission is to be an innovative
reformer of the construction industry. The Company has divided its operations
into four service areas: Business Premises, Housing, Social Care and Educational
Premises and Building Renovation. Lehto Group currently operates in Finland and
is geographically concentrated in growth centres, which form a significant part
of the construction volume. The Company's headquarters are located in Kempele.
The company employed 423 people at the end of the financial year 2015.
DISCLAIMER
This announcement is not for publication or distribution, directly or
indirectly, in Australia, Canada, Hong Kong, Japan, Singapore, South Africa or
the United States, or any other jurisdiction in which release or distribution
would be unlawful. The distribution of this announcement may be restricted by
law in certain jurisdictions and persons into whose possession any document or
other information referred to herein comes should inform themselves about and
observe any such restriction. Any failure to comply with these restrictions may
constitute a violation of the securities laws of any such jurisdiction.
The information contained herein shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of the securities
referred to herein in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration, exemption from registration or
qualification under the securities laws of any such jurisdiction. Investors must
neither accept any offer for, nor acquire, any securities to which this document
refers, unless they do so on the basis of the information contained in the
applicable prospectus approved by the Finnish Financial Supervisory Authority
and published by the Company.
These written materials do not constitute an offer for sale of securities in the
United States, nor may the securities be offered or sold in the United States
absent registration or an exemption from registration under the U.S. Securities
Act of 1933, as amended, and the rules and regulations thereunder. The
securities will not be registered under the U.S. Securities Act of 1933, as
amended, and there will be no public offering of the securities in the United
States.
The Company has not authorised any offer to the public of securities in any
member state of the European Economic Area other than Finland. With respect to
each member state of the European Economic Area other than Finland which has
implemented the Prospectus Directive (each, a "Relevant Member State"), no
action has been undertaken or will be undertaken to make an offer to the public
of securities requiring publication of a prospectus in any Relevant Member
State. As a result, the securities may only be offered in Relevant Member States
(a) to any legal entity which is a qualified investor as defined in the
Prospectus Directive; or (b) in any other circumstances falling within Article
3(2) of the Prospectus Directive. For the purposes of this paragraph, the
expression "an offer of securities to the public" means the communication in any
form and by any means of sufficient information on the terms of the offer and
the securities to be offered so as to enable an investor to decide to exercise,
purchase or subscribe for the securities, as the same may be varied by any
measure implementing the Prospectus Directive in that Relevant Member State, and
the expression "Prospectus Directive" means Directive 2003/71/EC (and amendments
thereto, including the 2010 PD Amending Directive, to the extent implemented in
the Relevant Member State), and includes any relevant implementing measure in
the Relevant Member State and the expression "2010 PD Amending Directive" means
Directive 2010/73/EU.
The information contained herein shall not constitute a public offering of
shares in the United Kingdom. This document is only being distributed to and is
only directed at (i) persons who are outside the United Kingdom or (ii) to
investment professionals falling within Article 19(5) of the Financial Services
and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (iii)
high net worth companies, and other persons to whom it may lawfully be
communicated, falling within Article 49(2) of the Order (all such persons
together being referred to as "relevant persons"). Any investment activity to
which this document relates will be only available to, and will be engaged in
only with, relevant persons. Any person who is not a relevant person should not
act or rely on this document or any of its contents.
This document includes "forward-looking statements" that involve risks,
uncertainties and other factors, many of which are outside of the Company's
control and could cause actual results to differ materially from the results
discussed in the forward-looking statements. Forward-looking statements include
statements concerning the Company's dividend policy, financial targets, plans,
objectives, goals, future events, performance and/or other information that is
not historical information. The Company undertakes no obligation to publicly
update or revise forward-looking statements to reflect subsequent events or
circumstances after the date made, except as required by law.
The Bookrunners are acting exclusively for the Company in connection with the
contemplated listing. The Bookrunners will not regard any other person as their
respective client in relation to the listing and will not be responsible to
anyone other than the Company for giving advice in relation to the listing or
transactions related thereto.
Lehto_Group_PLC_ SUBSCRIPTION PERIOD DISCONTINUED_ENG:
http://hugin.info/172058/R/2005979/741103.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Lehto Group Oyj via GlobeNewswire
[HUG#2005979]
Unternehmensinformation / Kurzprofil:
Datum: 22.04.2016 - 17:00 Uhr
Sprache: Deutsch
News-ID 465912
Anzahl Zeichen: 10847
contact information:
Town:
Kempele
Kategorie:
Business News
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"LEHTO GROUP PLC'S INITIAL PUBLIC OFFERING HAS BEEN OVERSUBSCRIBED AND THE SUBSCRIPTION PERIOD DISCONTINUED"
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