23rd March 1998
FIRST PACIFIC'S REMAINING HAGEMEYER "GREENSHOE" SHARES FULLY PURCHASED
First Pacific Company Limited announced that its remaining 5.3 million shares of Hagemeyer NV, which comprised the "greenshoe" element in its sale of the Dutch subsidiary's shares, have been purchased by the offering's joint lead managers.
The purchase of the shares by ING Barings and SBC Warburg Dillon Read mean that First Pacific will receive a total of US$1.76 billion (HK$13.75 billion) for its entire 39.7 per cent stake in Hagemeyer. It will receive the funds by Wednesday, 25th March.
The joint lead managers had until 24th April the option to buy the Hagemeyer shares at a price of NLG 89 each, the same price at which its other 35.6 million shares were purchased on Thursday, 19th March, by a broad range of institutional investors following a nine-day bookbuilding and roadshow program in the Netherlands, the rest of Europe and the U.S.
The greenshoe shares were reserved for the joint lead managers to help ensure adequate liquidity and price stability of the shares in the secondary market.
For further information, please contact:
| First Pacific Company Limited | Robert Sherbin Group Vice President Corporate Communications |
Tel: (852) 2842-4380 |
| ING Barings | John Shakeshaft Head Equity Capital Markets |
Tel: (44-171) 767 6773 |
| Joost Rietvelt Director Equity Capital Markets |
Tel: (31-20) 563 8533 | |
| SBC Warburg Dillon Read | Lucinda Riches Executive Director Equity Capital Markets |
Tel: (44-171) 568 2260 |
First Pacific Company's information can also be accessed on:
| Web Site: |
http://www.firstpacco.com http://www.irasia.com/listco/hk/firstpac |
E-mail: info@firstpac.com.hk |
| © Copyright 1996-2008 irasia.com Ltd. All rights reserved. Tel: (852) 2831-9792. |
|
DISCLAIMER: irasia.com Ltd makes no guarantee as to the accuracy or completeness of any
information provided on this website. Under no circumstances shall irasia.com Ltd be liable
for damages resulting from the use of the information provided on this website.
TRADEMARK & COPYRIGHT: All intellectual property rights subsisting in the contents of this website belong to irasia.com Ltd or have been lawfully licensed to irasia.com Ltd for use on this website. All rights under applicable laws are hereby reserved. Reproduction of this website in whole or in part without the express written permission of irasia.com Ltd is strictly prohibited. TERMS OF USE: Please read the Terms of Use governing the use of our website. |