Applus+ successfully completes its Offering allocation
21/05/2014
The joint global coordinators of the Offering (Morgan Stanley and UBS) have fully exercised the greenshoe option and ended the stabilisation period
Barcelona, 21st May 2014.- Morgan Stanley, in its capacity as stabilising manager in the context of the initial public offering of Applus+, today announced that the joint global coordinators (Morgan Stanley & Co. International plc and UBS Limited), acting on behalf of the underwriters, fully exercised the greenshoe option granted by Azul Finance S.à.r.l, consisting of a total of 7,586,207 shares, representing 10% of the total number of shares in the Offering.
As a result of the exercise of the option, the stabilisation period has concluded within 8 open market days, earlier than the 30 days limit as detailed in the Prospectus. No stabilisation trades were executed during this period.
Fernando Basabe, Chief Executive Officer of Applus+, said:
"I would like to welcome our new shareholders and assure them that we will continue working to consolidate Applus+ as one of the world leaders in the sector. We are delighted that the IPO has been such a success and demand for Applus+ shares so strong that the underwriters have not needed to use the stabilisation option and the greenshoe has been exercised in full. The interest shown by the highly reputed international investors, who in recent days have become Applus+’ shareholders through the acquisition of significant stakes, reinforces our strategy, market position and our future prospects and gives us confidence and credibility to continue to pursue our business goals".
Following the exercise of the greenshoe option, the approximate percentage holdings of Applus+ main beneficial shareholders as disclosed to the CNMV are:
Azul Holding: 35.5%
Carlyle (through CEP III PARTICIPATIONS, S.A.R.L. SICAR)
Members of the Board of Directors: 0.3%
Free float: 64.2%
Government of Singapore Investment Corporation PTE LTD: 6.1%
Ameriprise Financial: 3.8%
Rest: 54.3%
About Applus+ Group
Applus+ is one of the world’s leading companies in Testing, Inspection and Certification. It provides solutions for customers in all types of industries to ensure that their assets and products meet quality, health & safety, and environmental standards and regulations.
Headquartered in Barcelona, Spain, Applus+ operates in more than 60 countries through its network of 324 offices, 157 testing facilities and 322 statutory vehicle inspection stations, and employs more than 19,000 people (including approximately 3,000 engineers). Applus+ operates through six global divisions, all of which operate under the Applus+ brand name. In 2013, Applus+ recorded revenue of € 1,581 million and adjusted operating profit of €150.7 million. From 1 January 2011 to 31 December 2013, the Group’s revenue grew at a CAGR of 15.8%.
Applus+ successfully listed on the Barcelona, Bilbao, Madrid and Valencia stock exchanges with its shares commencing trade on 9 May 2014 at a price per share of €14.50.
For further information:
Analysts and Investors
Aston Swift +34 93 5533 111 aston.swift@applus.com