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Forbo successfully completes sale of treasury shares
Forbo successfully sold 63,000 treasury shares at a price of CHF 1,450 per share via an accelerated bookbuilding. The gross proceeds to Forbo amount to about CHF 91 million.
Baar, August 8, 2017
Forbo has successfully completed the placement of treasury shares which was announced yesterday. Forbo sold 63,000 treasury shares, representing 3.5% of Forbo’s share capital and the majority of the treasury shares held by Forbo, via an accelerated bookbuilding process by way of a placement in Switzerland and private placements outside of Switzerland in accordance with applicable securities laws (the “Placement”). The shares have been placed at a price of CHF 1,450 per share. The Placement results in gross proceeds for Forbo of about CHF 91 million.
Forbo‘s anchor shareholder and member of the Board of Directors, Michael Pieper, through his vehicle Artemis Beteiligungen I AG, had committed to purchase up to 55,000 shares and Forbo’s Executive Chairman, This E. Schneider, had committed to purchase up to 8,000 shares, each based on a firm order at a price of CHF 1,420 per share. Since the bookbuilding was very successful, all shares were placed with other investors at a higher price.
Credit Suisse has been acting as sole bookrunner for the Placement.
Within the framework of a stabilization program in accordance with Article 126 of the Swiss Federal Financial Market Infrastructure Ordinance, Forbo may direct Credit Suisse to purchase on its behalf within thirty calendar days following the pricing of the Placement up to 10,000 own shares at a price not exceeding the Placement price.
Forbo is a leading manufacturer of floor coverings, building and construction adhesives, as well as power transmission and conveyor belt solutions. The company employs more than 5,500 people and has an international network of 24 production facilities and distribution companies, 6 assembly centers as well as 45 pure sales organizations in a total of 36 countries across the globe. The company generated net sales of CHF 1,185.5 million in the 2016 business year. Forbo is headquartered in Baar in the canton of Zug, Switzerland.
The Group company Forbo Holding Ltd is listed on the SIX Swiss Exchange (securities number 354151, ISIN CH0003541510, Bloomberg FORN SW, Reuters FORN.S).
Contact person:
This E. Schneider
Executive Chairman
Phone +41 58 787 25 49
Fax +41 58 787 20 49
www.forbo.com
