The pub­lic of­fer­ing of Marel to com­mence on 29 May 2019

Marel hf. (the “Company” or “Marel”) holds a public offering in relation to its planned listing on Euronext Amsterdam. The Offering consists of: A public offering in Iceland, A public offering in the Netherlands and Private placements to certain institutional investors in various jurisdictions.
29 May 2019

Marel hf. (the “Company” or “Marel”) holds a public offering in relation to its planned listing on Euronext Amsterdam.

The Offering consists of:

  1. A public offering in Iceland
  2. A public offering in the Netherlands
  3. Private placements to certain institutional investors in various jurisdictions

The offer period in respect of the public offerings in Iceland and the Netherlands will start on 29 May 2019 at 7:00 GMT and end on 5 June 2019 at 15:30 GMT. The institutional offering will start on 29 May 2019 at 7:00 GMT and end on 6 June 2019 11:00 GMT, both subject to shortening or extensions.

The offering is comprised of 90,909,091 newly issued shares, and 9,090,909 shares will be, if exercised, issued as a part of an overallotment option granted by Marel. Assuming the overallotment option is exercised in full, the offering will comprise of up to 100,000,000 shares, equivalent to approximately 15% of Marel’s total issued share capital.

The total share capital of the Company prior to the share increase is ISK 671,007,916 represented by 671,007,916 shares, each with a par value of ISK 1.00. The ticker is MAREL and the ISIN is IS0000000388.

The indicative price range for the offer shares will be between EUR 3.40 to EUR 3.90 per share. The offer price will be determined by the Company, after the end of the offer period.

In Iceland the minimum size of orders is restricted to offer shares with a purchase value equal to EUR 1,000.

Funds and accounts under management by Blackrock and Credit Suisse Asset Management (Switzerland) Ltd. have committed to subscribe throughout the offer price range. The total combined commitments correspond to up to EUR 102 million, representing 226.2-28.6% of the offer shares, and 3.4-3.7% of the company’s outstanding share capital following completion of the offering. Each cornerstone investor’s commitment is subject to a maximum offer price of EUR 3.90 per share and other customary conditions.

Allotment to investors who have placed orders for offer shares will be determined by the Company.

There will be a preferential allocation of offer shares to retail investors in accordance with applicable law and regulations. Each retail investor will be allocated the first 1,350 (or fewer) offer shares for which such investor applies. However, if the total number of offer shares subscribed for by retail investors under the preferential retail allocation would exceed 10% of the total number of the offer shares in aggregate, assuming no exercise of the overallotment option, the preferential allocation to each retail investor may be reduced pro rata to the first 1,350 (or fewer) offer shares for which such investor applies. As a result, retail investors may not be allocated all of the first 1,350 (or fewer) offer shares for which they apply. The exact number of offer shares allocated to retail investors will be determined after the offer period has ended.

The allocation of the offer shares is expected to take place after termination of the offer period on or about 6 June 2019.

The offer price will be set in EUR and, for the public offer in Iceland, the purchase price will be converted into ISK based on the official exchange selling rate of EUR/ISK as published by the Central Bank of Iceland on the date of allocation expected to be on or around 6 June 2019.

The offer shares will be delivered in EUR through the book-entry system of Euroclear Nederland.

Application has been made to list and admit all of the offer shares to trading under the symbol “MAREL” on Euronext Amsterdam. The first expected day of conditional trading of the offer shares (conditional on admission) on Euronext Amsterdam is on or around 7 June 2019, and the first expected day of unconditional trading of the offer shares on the regulated markets of Euronext Amsterdam is on or around 12 June 2019, being also the expected date of admission.

Citi and J.P. Morgan are acting as Joint Global Coordinators for the planned offering and dual listing. ABN Amro, ING and Rabobank are acting as Joint Bookrunners. Arion Bank and Landsbankinn are acting as Joint-Lead Managers and Icelandic Retail Managers. STJ Advisors is acting as independent financial advisor to Marel on the dual listing.

For further information regarding Marel, the offer shares, risk factors and the terms of the offering, refer to Marel‘s Prospectus dated 28 May 2019.

The above is an extract from the Prospectus. If any discrepancies occur, the Prospectus shall prevail.


You may also be interested in
Námsstyrkir 2024
4 June 2024
Landsbankinn awards scholarship in the amount of ISK 8 million
Landsbankinn awarded sixteen students with scholarships from the Bank’s Community Fund on 31 May. This was the Bank’s 35th allocation of scholarships which this year amounted to ISK 8 million in total. Over 400 applications were received this year.
28 May 2024
Í never used for logging in to the app or online banking
We would like to warn you of fraudulent messages sent in the name of Í for the purpose of collecting personal information and accessing online banking for individuals. Please note that Í is never used to log in to Landsbankinn's app or online banking.
Skólahreysti 2024
27 May 2024
Team Flóaskóli is winner of Skólahreysti 2024
The teams from Flóaskóli and Laugalækjarskóli elementary schools were equal in points after exciting finals in Skólahreysti (Fit for School) in Mýrin, Garðabær on Saturday 25 May. Both schools received 57.5 out of 72 points! When schools tie for points, their results in the five competition events determines the winner. Flóaskóli scored more points than Laugalækjarskóli in three of the five events and is the winner of Skólahreysti 2024.
24 May 2024
Concerning the advisory opinion of the EFTA Court
Today, the EFTA Court delivered an advisory opinion regarding interpretation of certain provisions of EU directives relating to consumer housing mortgages. The directives have been incorporated into the EEA Agreement and transposed into Icelandic law by acts of Parliament. The opinion was delivered at the request of district courts for two court cases that have been brought against Landsbankinn, on the one hand, and Íslandsbanki, on the other. The cases concern contractual provisions governing the grounds for interest rate changes on housing mortgages.
22 May 2024
No transaction fees or annual fees with Landsbankinn’s Plúskort card
With Landsbankinn’s Plúskort payment card, you pay no transaction or annual fees yet still gather Aukakrónur which can be used to shop with our partners.
17 May 2024
Credit assessment not available from Friday at 17 until Saturday at 15
Due to maintenance, credit assessment will not be available in the Landsbankinn app and online banking from 17:00 on Friday 17 May until 15:00 on Saturday 18 May.
30 April 2024
Landsbankinn changes interest rates
Landsbankinn changes deposit and lending rates, effective as of 1 May 2024.
5 April 2024
Norwegian, Swedish and Danish bank notes
The use of bank notes in Europe is decreasing and especially in the Nordic countries. Increased digitalisation in commerce and trade and the pandemic have accelerated that development. Measures against money laundering have restricted foreign currency trading in cash severely and rules and legislation to prevent money laundering have been tightened, most notably in the Nordics.
Stúlka með síma
27 March 2024
Easter service - the app can come in handy!
Landsbankinn's branches and customer service centre will be closed during Easter and will open again on Tuesday 2 April.
15 March 2024
Landsbankinn lowers interest rates
Landsbankinn lowers interest rates on new, non-indexed housing mortgages with fixed rates.

By clicking "Allow All", you agree to the use of cookies to enhance website functionality, analyse website usage and assist with marketing.

More on cookies