29.05.2015
Siltronic AG DE000WAF3001
DGAP-News: Siltronic AG: Siltronic AG publishes prospectus
DGAP-News: Siltronic AG / Key word(s): IPO/Capital Increase
Siltronic AG: Siltronic AG publishes prospectus
29.05.2015 / 12:44
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NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR
INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN.
Press Release
Siltronic AG
Hanns-Seidel-Platz 4
81737 München
www.siltronic.com
Siltronic AG publishes prospectus
- Price range set at EUR 30 to EUR 38 per share
- Offering comprises up to 11,000,000 shares, plus an over-allotment
option of up to 1,650,000 shares, and represents up to 42.2 percent of
the share capital
- Subscription period begins on 1 June 2015 and is expected to end on 10
June 2015
- First listing on the regulated market segment (Prime Standard) of the
Frankfurt Stock Exchange planned for 11 June 2015
- Prospectus published today on the company website
Munich, 29 May 2015 - Siltronic AG ("Siltronic") and the company's current
owner, the WACKER Group ("WACKER"), in cooperation with Citi and Credit
Suisse as Joint Global Coordinators and Joint Bookrunners, have set the
price range for the planned initial public offering ("IPO") of Siltronic at
EUR 30 to EUR 38 per share. The final offer price will be determined on the
basis of a bookbuilding process. Trading of the Siltronic shares under the
ticker symbol WAF and the ISIN DE000WAF3001 is set to begin on the
regulated market segment (Prime Standard) of the Frankfurt Stock Exchange
on Thursday 11 June 2015. The shares will be offered publicly in Germany
and Luxembourg to private and institutional investors. Outside of these
countries, shares will be offered for subscription by way of private
placements.
"Siltronic is excellently positioned in an attractive market environment,"
underlined Dr Christoph von Plotho, CEO of Siltronic AG. "Comprehensive
initiatives undertaken in recent years have paid dividends. We have
thoroughly prepared Siltronic for its independence and are ideally placed
for the planned IPO and a successful, independent future."
The offer will comprise a maximum of 12,650,000 shares. Thereof, up to
5,000,000 shares will be new shares issued in a capital increase by
Siltronic, 6,000,000 shares will be existing shares from the holdings of
WACKER, and up to 1,650,000 shares will be existing shares relating to a
possible over-allotment, also from the holdings of WACKER. If all shares
from the offering are placed (including the over-allotment), Siltronic will
have a free float of 42.2 percent of its share capital after the capital
increase. In this case, WACKER will retain approximately 57.8 percent of
the share capital after the transaction is complete (or 63.3 percent in
case the over-allotment option is not exercised).
Siltronic plans to issue a number of new shares in the IPO that will
generate gross proceeds of approximately EUR 150.0m. Based on such target
for gross proceeds from the issue of new shares and depending on the
placement price within the price range, the placement volume will be
between approximately EUR 330.0m and approximately EUR 378.0m (without
over-allotment) or between approximately EUR 379.5m and EUR 434.7m (if the
over-allotment option is fully exercised).
The Management Roadshow to market the shares begins today and is expected
to end on Wednesday 10 June 2015. The subscription period will begin on
Monday 1 June 2015 and is also expected to end on Wednesday 10 June 2015.
Siltronic, the world's third largest producer of hyperpure silicon wafers
for the semiconductor industry, has further increased its competitiveness
in recent years. The company has expanded its market share to a current
level of 14 percent (in revenue terms, source: Gartner). Through a
stringent cost reduction roadmap, Siltronic succeeded in reducing its costs
by over EUR 80.0m in 2013 compared to the previous year. In 2014, further
savings of some EUR 55.0m compared to 2013 were achieved. In the past five
years alone, Siltronic managed to almost double productivity in its 300 mm
wafer production in Germany (based on wafer surface produced per working
hour), while cutting variable production costs by over 40 percent. Three of
Siltronic's previous seven production sites were closed down over the past
ten years.
Siltronic intends to use net proceeds from the IPO to refinance its debt
and to strengthen its existing net cash position. The net proceeds can also
be used for general corporate purposes such as, for example, investment in
improving Siltronic's technological capabilities and optimising its
production processes.
Detailed information on the offering is contained in the Siltronic
prospectus, which has been approved by the German Federal Financial
Supervisory Authority (BaFin) and is now available in the Investor
Relations section of the company website at www.siltronic.com.
Further information is available from:
Siltronic press contact:
Nicholas Wenzel
Tel.: +49 (0)89 599 458 115
Email: [email protected]
Siltronic Investor Relations contact:
Judith Distelrath
Tel.: +49 (0)89 8564 3133
Email: [email protected]
Company profile:
Siltronic is the world's third largest producer of hyperpure silicon wafers
and a partner to many top-tier chip manufacturers. The company operates
production facilities in Europe, Asia and the USA. Siltronic develops and
manufactures wafers with diameters of up to 300 mm. Silicon wafers form the
basis of the modern micro and nanoelectronics. They are used, for instance,
in computers, smartphones, flat-panel displays, navigation systems,
automotive engine control systems and many other applications.
This press release contains statements related to our future business and
financial performance and future events or developments involving Siltronic
that may constitute forward-looking statements. These statements may be
identified by words such as "expect," "look forward to," "anticipate"
"intend," "plan," "believe," "seek," "estimate," "will," "project" or words
of similar meaning. We may also make forward-looking statements in other
reports, in presentations, in material delivered to shareholders and in
press releases. In addition, our representatives may from time to time make
oral forward-looking statements. Such statements are based on the current
expectations and certain assumptions of WACKER's and Siltronic's
management, of which many are beyond our control. These are subject to a
number of risks and uncertainties. Should one or more of these risks or
uncertainties materialize, or should underlying expectations not occur or
assumptions prove incorrect, actual results, performance or achievements of
Siltronic may (negatively or positively) vary materially from those
described explicitly or implicitly in the relevant forward-looking
statement. Neither Siltronic or Wacker intends, nor assumes any obligation,
to update or revise these forward-looking statements in light of
developments which differ from those anticipated.
This announcement is not and does not constitute an offer of, or the
solicitation of an offer to buy or subscribe for, securities in the United
States of America, Germany or any other jurisdiction. Securities may not be
offered or sold in the United States of America absent registration or an
exemption from registration under the U.S. Securities Act of 1933, as
amended (the "Securities Act"). Any public offering of securities to be
made in the United States of America would be made by means of a prospectus
that could be obtained from Siltronic AG and that would contain detailed
information about the company and management, as well as financial
statements. There will be no public offer of the securities in the United
States of America.
This press release is not a prospectus. Investors should not purchase or
subscribe for any shares referred to in this press release except on the
basis of information in the prospectus to be issued by the company in
connection with the offering of such shares. Copies of the prospectus will,
following approval of the German Financial Supervisory Authority (BaFin)
and publication, be available free of charge from Siltronic AG or on
www.siltronic.com.
This press release is directed at and/or for distribution in the United
Kingdom only to (i) persons who have professional experience in matters
relating to investments 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 falling within article
49(2)(a) to (d) of the Order (all such persons are referred to herein as
"relevant persons"). Any person who is not a relevant person should not act
or rely on this [document/annoucement] or any of its contents. Any
investment or investment activity to which this press release relates is
available only to relevant persons and will be engaged in only with
relevant persons.
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29.05.2015 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Siltronic AG
Hanns-Seidel-Platz 4
81737 Munich
Germany
Phone: +49 89 8564 3133
Fax: +49 89 8564 3906
E-mail: [email protected]
Internet: www.siltronic.com
ISIN: DE000WAF3001
WKN: WAF300
Listed: Regulated Market in Frankfurt (Prime Standard)
Notierung vorgesehen / intended to be listed (Prime
Standard, Frankfurt)
End of News DGAP News-Service
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363219 29.05.2015
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