The c. 6.7 million existing DSM-Firmenich ordinary shares through an accelerated bookbuild offers for a total amount of €733 million
DSM-Firmenich has launched the sale of up to 6,696,477 existing DSM-Firmenich ordinary shares through an accelerated bookbuild offering of shares (the "Share Placement").
This caps a busy month for the company, after the merger between DSM and Firmenich at the start of May.
The company also announced it has raised total proceeds of €733 million following the sale of 6,696,477 existing DSM-Firmenich ordinary shares to institutional investors, representing approximately 2.5% of DSM-Firmenich's share capital, at a price of €109.50 per share. The book was multiple times oversubscribed.
According to a statement, the company “intends to use the net proceeds of the share placement to fund the cash consideration payable by the company in relation to the buy-out procedure in accordance with Dutch law that the company commenced in order to acquire the DSM ordinary shares that have not been tendered in the voluntary public exchange offer launched by the company for all the issued and outstanding DSM ordinary shares.”
The results of this exchange offer were announced by the Company on May 1, 2023. Closing and settlement of the Share Placement is expected to occur on May 29, 2023.
Goldman Sachs Bank Europe SE, ABN AMRO Bank N.V. (in cooperation with ODDO BHF SCA), and J.P. Morgan Securities are acting as joint global coordinators in connection with the share placement.