Transmode IPO priced at SEK 53 per share
(Thomson Reuters ONE) -
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO
THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN
STOCKHOLM - May 27, 2011. The Board of Directors of Transmode Holding AB (publ)
("Transmode" or the "Company") and its significant selling shareholders announce
the results of the initial public offering of Transmode's shares (the
"Offering").
Transmode is a provider of networking solutions which enable fixed line and
mobile network operators to cost effectively address the increasing capacity
needs created by the rapid growth in video and data traffic. The Company's
solutions serve as important building blocks in next-generation high speed
optical networks that support services such as broadband backhaul, mobile data
backhaul, video and cloud computing. Transmode focuses on providing solutions to
customers in the metro networks segment, utilizing WDM technology and technology
for packet optical transport. Customers include large tier 1 and incumbent
operators (e.g. Telenor), mobile operators (e.g. 3 Scandinavia), cable TV
operators/multiservice operators (e.g. Virgin Media), other alternative
operators and enterprises (e.g. OMX). To date, Transmode has completed over
20,000 deployments of the Company's products globally, for more than 300
different customers.
"The investors we have met during the past few weeks have shown strong interest
in our business," says Transmode's CEO Karl Thedéen. "We are very pleased that
the interest among institutional investors, in Sweden and internationally, as
well as private individuals to purchase shares in Transmode, has been so strong.
Our market and our business have exciting prospects ahead and now we look
forward to operating as a public company listed on NASDAQ OMX Stockholm".
The results of the Offering in brief:
* The final offering price per share is SEK 53, corresponding to a total
market capitalization for Transmode of SEK 1,427 million.
* The Offering was over-subscribed several times at the offer price. The size
of the Offering was increased in accordance with the terms of the Offering
by an additional 1,277,165 shares, so that a total of 8,888,889 shares,
representing 33.0% of the total shares in Transmode, are being sold in the
Offering.
* In addition, the significant selling shareholders have granted an option to
the Joint Global Coordinators and Joint Bookrunners to purchase up to
1,111,111 additional shares (12.5% of the Offering) to cover potential over-
allotments. If the over-allotment option is exercised in full, the total
number of shares sold will be 10,000,000, representing 37.1% of the shares
of the Company, and for a total value of SEK 530 million.
* Trading in the shares on NASDAQ OMX Stockholm will commence today, 27 May
2011, under the trading symbol "TRMO".
* Carnegie Investment Bank, Handelsbanken Capital Markets and UBS Investment
Bank acted as Joint Global Coordinators and Joint Bookrunners for the
Offering.
The interest has been strong in purchasing shares in Transmode. The base
offering comprised 7,611,724 shares and was over-subscribed several times at the
offer price. In response to demand from investors, the size of the offering was
increased in accordance with the terms of the Offering.
The significant selling shareholders have granted an option to the Joint Global
Coordinators and Joint Bookrunners, exercisable on one or more occasions in
whole or in part by Handelsbanken Capital Markets, acting as Stabilization
Manager on behalf of the Joint Global Coordinators and Joint Bookrunners, for
30 days following the first day of trading of the shares on the NASDAQ OMX
Stockholm, to purchase up to 1,111,111 additional shares to cover potential
over-allotments or other short positions in connection with the Offering.
Following completion of the offering, POD Venture Partners AB will remain the
largest shareholder with approximately 33.9% of the shares followed by Amadeus
General Partner Limited with approximately 11.1% of the shares, HarbourVest
International Private Equity Partners IV - Direct Fund L.P. with approximately
5.3% of the shares and EEP Managers Ltd with approximately 3.2% of the shares
(based on the undiluted total number of shares outstanding of 26,926,320 and
assumes that the over-allotment option is exercised in full). The selling
shareholders have agreed not to sell any additional shares in Transmode for a
period of six months as from today.
For further information, please visit www.transmode.com or contact:
Ola Elmeland
Vice President Marketing & Communications
Telephone: +46 8 506 882 71
Email:ola.elmeland(at)transmode.com
Important notice
The information in this announcement is required to be disclosed by Transmode
Holding AB (publ) ("Transmode" or the "Company") under the Swedish Securities
Markets Act (Sw. lag om värdepappersmarknaden). This information was released
for publication at 8:00 AM CET on 27 May 2011.
The contents of this announcement have been prepared by and are the sole
responsibility of Transmode. Carnegie Investment Bank AB (publ), Handelsbanken
Capital Markets (a division of Svenska Handelsbanken AB (publ)) and UBS Limited
are acting exclusively for Transmode and no one else. Carnegie Investment Bank
AB (publ), Handelsbanken Capital Markets (a division of Svenska Handelsbanken AB
(publ)) and UBS Limited will not be responsible to anyone other than Transmode
for providing the protections afforded to their respective clients, or for
advice in relation to the Offering, the contents of this announcement or any of
the matters referred to herein.
The distribution of this announcement and other information in connection with
the Offering may be restricted by law in certain jurisdictions. Persons into
whose possession this announcement or such other information should come are
required to inform themselves about and to observe any such restrictions. This
announcement may not be used for, or in connection with, and does not
constitute, any offer to sell, or an invitation to purchase, any securities.
These materials are not an offer for sale of the securities in the United
States. The securities have not been and will not be registered under the US
Securities Act of 1933, as amended (the "Securities Act"), and may not be
offered or sold in the United States absent registration or pursuant to an
exemption from, or in a transaction not subject to, the registration
requirements under the Securities Act. There has been and will be no public
offer of the securities in the United States. These materials are not for
release, publication or distribution directly or indirectly, in whole or in
part, in the United States, Canada, Australia or Japan, or any other
jurisdiction where to do so might constitute a violation of, or require further
registration or documents in accordance with, the relevant laws or regulations
of such jurisdiction.
All investment is subject to risk. The value of the Transmode shares may go down
as well as up. Past performance is no guarantee of future returns. Potential
investors are advised to seek expert financial advice before making any
investment decision.
This announcement contains forward-looking statements, including statements
about Transmode's beliefs and expectations. These statements are based on
Transmode's current plans, estimates and projections, as well as its
expectations of external conditions and events. Forward-looking statements
involve inherent risks and uncertainties and speak only as of the date they are
made. Transmode undertakes no duty to and will not necessarily update any of
them in light of new information or future events, except to the extent required
by applicable law. A number of important factors could cause actual results or
outcomes to differ materially from those expressed in any forward-looking
statements. These factors include, but are not limited to those discussed under
"Risk Factors" in the prospectus expected to be made generally available in
connection with the listing of the Transmode shares.
Appendix - Pricing Statement:
http://hugin.info/134733/R/1519336/455832.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters 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: Transmode via Thomson Reuters ONE
[HUG#1519336]
Unternehmensinformation / Kurzprofil:
Datum: 27.05.2011 - 08:01 Uhr
Sprache: Deutsch
News-ID 55068
Anzahl Zeichen: 9585
contact information:
Town:
Stockholm
Kategorie:
Business News
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