Demag Cranes IPO: Allotment to retail investors
Düsseldorf, 23. June 2006
The shares of Demag Cranes AG were successfully placed under the new offer terms. At the fixed offer price of EUR 22.00 per share a total number of 10.7 million shares were placed (approx. 12.3 million shares if the Greenshoe Option is exercised in full). This amounts to an offer volume of EUR 235.4 million (approx. EUR 270.7 million if the Greenshoe Option is exercise in full). Start of trading is today, Friday, 23 June.
The allotment to retail investors took place in compliance with the Principles of Share Issues for Retail Investors as published by the Expert Committee for the Stock Exchange of the Federal Finance Ministry on 7 June 2000. All underwriters applied the same criteria. Since demand exceeded the offer volume, not all orders could be fully allotted. Therefore, each retail investor who placed a purchase order through an underwriter received an allotment equivalent to 40 percent of the shares ordered.
The information contained in this press release is not for publication or distribution to persons in the United States, Canada, Australia or Japan. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold without registration thereunder or pursuant to an available exemption therefrom. Any public offering of securities of Demag Cranes AG to be made in the United States would have to be made by means of a prospectus that would be obtainable from Demag Cranes and would contain detailed information about the issuer of the securities and its management, as well as financial statements.
Neither this press release nor the information contained herein constitutes an offer to sell or the solicitation of an offer to buy any securities. The securities offered in connection with the initial public offering have already been placed.
This press release does not contain an offer of securities for sale in the United States; the securities may not be offered or sold in the United States absent registration or an exemption from registration.