Ducati Motor Holding SpA, a leading
manufacturer of high performance motorcycles,
announced today that its global offering of
90,200,000 shares of its common stock, in the
form of shares or American Depositary Shares
each representing 10 shares, has been priced at
Euros 2.90 (Lit. 5,615.183) per share and
US$31.67 per ADS. The shares and the ADSs
will commence trading on Wednesday, March 24,
1999.
Of the 90,200,000 shares, 17,000,000 were
offered by the Company and 73,200,000 shares
were offered by TPG Motorcycle Acquisition L.P.
and TPG Motorcycle Belgium S.A. (affiliates of
Texas Pacific Group), Motorcycle Investment
S.a.r.l. (an affiliate of Deutsche Morgan Grenfell
Capital Italy) and Cefisio-Comercio Internacional
e Servicos Lda. (collectively, the "Selling
Shareholders"). Upon completion of the offering,
66.1% of the Company's 157,000,000 total
outstanding shares will be held by the public and
33.9% will be held by the Selling Shareholders
and certain other parties (if the underwriters'
overallotment option to purchase up to an
aggregate of 13,530,000 additional shares is
exercised in full). The settlement and closing of
the offering is expected to take place on or about
March 31, 1999. Net proceeds to the Company
will be used to repay indebtedness.
American Depositary Shares have been approved
for listing on the New York Stock Exchange under
the symbol "DMH" and the shares have been
approved for listing in Italy on the Mercato
Telematico Azionario.
Credit Suisse First Boston, Mediobanca and
Banca Commerciale Italiana acted as joint global
coordinators of the public offering. Credit Suisse
First Boston and Mediobanca were the joint lead
managers of the institutional tranche, and Lehman
Brothers, Merrill Lynch, Banca Commerciale
Italiana and Cazenove acted as co-managers.
This press release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall
there be any sale of these securities in any state or
other jurisdiction in which such offer, solicitation
or sale would be unlawful prior to registration or
qualification under the securities laws of any such
state or other jurisdiction. A copy of the
prospectus may be obtained from Credit Suisse
First Boston, 11 Madison Avenue, New York,
New York, Tel: (212) 325-2288 in the U.S. and
One Cabot Square, London, E14 4QJ, UK, Tel:
(44-171) 888-3068 or Mediobanca, Via
Filodrammatici, 10; 20121 Milan, Italy, Tel:
(3902) 88291 in Europe.
Founded in 1926, Ducati is widely recognized
among enthusiasts to represent racing inspired
motorcycles characterized by unique engine
features, innovative design, advanced engineering
and overall technical excellence. The Company
produces motorcycles in four market segments
which vary in their technical and design features
and intended customers: HyperSport, Super Sport,
Sport Naked and Sport Touring. The Company's
motorcycles are sold in more than 40 countries
worldwide, with a primary focus in the Western
European and North American markets. |
