Netherlands-based NIBC Holding NV will price its shares at €8.75 to €10.25 apiece as a part of its planned IPO.
The offering consists of up to 38,167,516 ordinary shares, plus an overallotment option of up to 5,725,127 ordinary shares, to be sold by entities advised by U.S.-based private equity firm J.C. Flowers & Co. LLC. Inclusive of the overallotment option, the offering comprises 30% of the company's issued and outstanding ordinary shares.
The price range corresponds to an equity value of €1.28 billion to €1.5 billion for the company, while the offering itself is valued at €384 million to €450 million on the basis of the indicative price range assuming full exercise of the overallotment option.
The offer period for the IPO began March 12 for Dutch retail investors and institutional investors. Eligible retail investors in the Netherlands have a preferential allocation of up to 10% of the total shares offered.
The offer period is expected to end at 5:30 p.m. Amsterdam time on March 21 for retail investors, and at 1 p.m. on March 22 for institutional investors. Pricing is expected to take place March 22, with trading of the offered shares to commence March 23 on Euronext Amsterdam.
Citigroup Global Markets Ltd., Deutsche Bank AG London branch and Morgan Stanley & Co. International PLC are acting as joint global coordinators for the offering and alongside ABN Amro Bank NV and ING Bank NV as joint book runners.
NIBC Holding NV is the parent company of NIBC Bank NV.
