Hey let's move on. Off topic. Cacaito, what do you know about Serono? Symbol SRA. Here's all I could find on it.>>>>>>>>>>>>>Serono Announces Pricing of US$1.8 Billion Global OfferingCHF 1,550 Per Bearer Share and $23.49 Per ADS
- ADSs Commence Trading on NYSE Today -
GENEVA, July 27 /PRNewswire/ -- Serono S.A. (NYSE: SRA; SWX Swiss Exchange: SEO) today announced the pricing of the company's global offering of 1,946,672 bearer shares, which are also offered in the form of American Depositary Shares ("ADSs"). In the global offering, Serono sold 973,336 new bearer shares and its controlling shareholder, the Bertarelli family, sold 973,336 existing bearer shares.
The offering was priced at 1,550 Swiss francs (CHF) per bearer share and US$23.49 per ADS. Forty (40) ADSs represent one bearer share. Serono also announced that of the 973,336 bearer shares that it sold in the global offering, 117,516 bearer shares were subscribed for in a rights offering to its existing shareholders at the global offering price of CHF 1,550 per bearer share. The rights offering enabled existing shareholders to purchase one new bearer share for each 14 existing bearer shares they held.
The net proceeds to the Company, after expenses and excluding the proceeds of an over-allotment option, if any, are $878 million. The Company and the selling shareholder have made available to the underwriters an option to purchase up to an additional 194,668 bearer shares to cover over-allotments, if any, and this option may be exercised until August 25, 2000.
As a result of the offering, the company's capital structure includes 11,561,045 bearer shares, with a nominal value of CHF 25 per share, and the bearer shares are also now traded in the form of American Depositary Shares. The company's capital structure also includes 11,013,040 registered shares, with a nominal value of CHF 10 per share, which are not publicly traded. Calculation of market capitalization and earnings per share should be based on the total number of equivalent bearer shares, which is 15,966,261.
Thursday, July 27 is the first day of trading of the new bearer shares on the SWX Swiss Exchange under the symbol "SEO" and of the American Depositary Shares on the New York Stock Exchange under the symbol "SRA".
Merrill Lynch acted as global coordinator, and UBS Warburg and JP Morgan were co-leads for the offering.
For more information, please contact:
Serono International S.A., Geneva, Switzerland:
Media Investor Noonan/Russo
Relations: Relations: Communications:
Tel: +41-22-739-36-00 Tel: +41-22-739-36-01 Tel: +44-207-726-4452
Fax: +41-22-739-30-85 Fax: +41-22-739-30-22 Fax: +44-207-726-4453
Internet: www.serono.com Reuters: SEOZ.S www.noonanrusso.com
Bloomberg: SEO SW Tel: 212-696-4455
Fax: 212-696-9180
Serono, headquartered in Geneva, Switzerland, is a global biotechnology leader. The company has four recombinant products on the market: Gonal-F(R), Rebif(R), Serostim(R) and Saizen(R). In addition to being the world leader in reproductive health, Serono has strong market positions in neurology, metabolism and growth. The Company's research programs are focused on growing these businesses and on establishing new therapeutic areas. Currently, there are six recombinant products in development. In 1999, Serono achieved worldwide sales of US$1.054 billion and a net income of US$183.7 million. The Company operates in 45 countries, and its products are sold in over 100 countries. Bearer shares of Serono S.A., the holding company, are traded on the SWX Swiss Exchange (SEO) and its American Depositary Shares are traded on the New York Stock Exchange (SRA).
SOURCE Serono S.A.
07/27/2000 01:00 EDT prnewswire.com |
