BKW-listing on the Swiss Exchange (SWX)
Berne (ots)
BKW FMB Energie AG, one of Switzerland's leading electrical power suppliers, is listing its registered shares on the main segment of the SWX Swiss Exchange from May 28, 2003. As part of a public placement of shares in Switzerland and international private placements, up to about ten per cent of the shares will be placed with interested institutional and private investors at the end of June. As a result, from June 25, 2003, more than 28 per cent of the BKW shares will be in free float. BKW FMB Energie AG is thereby providing the basis for more liquid trading of its shares.
BKW FMB Energie AG has applied for suspension of trading in its registered shares on the BX Berne Exchange on Tuesday, May 27, 2003. Trading will begin on the SWX Swiss Exchange tomorrow, Wednesday, May 28, 2003. The listing on the BX Berne Exchange will be retained. At the end of June, a banking syndicate led by Bank Julius Baer will place up to 510,000 registered shares with institutional and private investors. The shares will be offered from June 16 to June 24, 2003 in a book-building procedure. Allocation is expected on June 25, 2003.
The shares will be supplied by the existing shareholders. The Canton of Berne will sell up to 440,510 shares. In addition, the Berner Kantonalbank will sell up to 40,000 shares and BKW FMB Energie AG will sell 29,490 shares from its own holdings. The shareholders selling their shares have granted the syndicate banks an option to purchase up to an additional 51,000 registered shares (the so-called Greenshoe or overallotment option). With its sale, the Canton of Berne is reducing its participation in BKW FMB Energie AG from 60.2% to approx. 51%. It is thus implementing the ownership strategy that it announced previously. Once the transaction is completed, more than 28% of the BKW shares will be in free float. With this step, BKW FMB Energie AG is forming the basis for more liquid trading of its shares.
Important note
This press release is for general information purposes only. It does not represent an offer to purchase or sell the shares mentioned in it. Exclusively legally binding is the listing prospectus and offering circular of BKW FMB Energie AG which is scheduled to appear on May 28, 2003 and can then be obtained from BKW FMB Energie AG, Telephone: 0800-BKW-FMB (0800-259-362), E-Mail: investor.relations@bkw-fmb.ch, or from your bank.
These materials are not an offer for sale of the shares in the United States or in any other jurisdiction where such offer for sale is prohibited by law. The shares may not be sold in the United States in the absence of registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. BKW FMB Energie AG does not intend to register any portion of the offering in the United States or to conduct a public offering of shares in the United States. These materials are not for distribution in the United States or in any other jurisdiction where such distribution is prohibited by law.
Contact:
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E-Mail: info@bkw-fmb.ch