Trading in Lindab's shares on the Stockholm Stock Exchange will commence today, 1 December 2006. The final offer price per share was set at SEK 110, corresponding to a total market capitalization of SEK 8,658 m.
Ratos has sold 45% of its shares in Lindab in the offering, at a total value of SEK 1,796 m. Additionally, Ratos has granted an over-allotment option for 1,973,349 shares at SEK 110 per share, which can be exercised within 30 days.
Based on the consolidated value of Ratos's holding as of 30 September 2006, the exit gain from the sale is expected to be SEK 1,300 m to 1,500 m, depending on whether or not the over-allotment option is exercised. The final exit gain will be adjusted for Ratos's share of Lindab's profit until the date of the sale and potential exchange differences.For the shares now sold, Ratos's average annual return (IRR) on the investment since 2001 has been 30%.
If the over-allotment option is exercised, the consolidated book value of Ratos's remaining holding of 17.7 million shares will be SEK 470 million, based on the consolidated value as of 30 September. The holding will correspond to approx. 22.5% or 25.0% of the total number of shares and voting rights in Lindab, depending on whether or not the over-allotment option is exercised.
Ratos has agreed not to sell further shares in Lindab (excluding a potential exercise of the over-allotment option) during a period of nine months from today.
For further information regarding the Lindab IPO, please visit www.lindab.com/default.htm
For further information, please contact:
Arne Karlsson, CEO Ratos, +46 8 700 17 00
Anna-Karin Celsing, Head of Corporate Communications Ratos, +46 70 399 62 39
Kjell Åkesson, CEO Lindab, +46 431 850 00