According to the company website press release on April 4, 2023, Asset Company 10 S.r.l., a wholly owned subsidiary of Snam S.p.A., Federico De Nora S.p.A and Norfin S.p.A. (collectively, the " Sellers") today announced that they are selling approximately 10 million of ordinary shares, representing 5% of the Company’s share capital (the " Shares") that they own in Industrie De Nora S.p.A. (the " Company" or " De Nora").
The sale will be undertaken via an accelerated bookbuilding process to institutional investors (the " Transaction" or the "Offering").
The price per share offer will be determined by way of an accelerated bookbuilding process to institutional investors. The bookbuilding period will commence today, 4 th of April 2023, and may close at any time on short notice. The results of the offering, including the number of shares offer sold and the price per share offer, will be announced as soon as practicable after the closing of the bookbuilding process.
The shares will partially result from the conversion of multiple voting shares into ordinary shares upon transfer.
This Transaction is aimed at increasing the free float and the liquidity of the Company's shares.
After the offering, Federico De Nora S.p.A. will retain control of Industrie De Nora S.p.A.
The sellers have agreed to a lock-up of 90 days in respect of their remaining stake in De Nora after the date of settlement of the Transaction, subject to certain customary exceptions and waiver by the Bookrunners.
BofA Securities and Goldman Sachs International are acting as Joint Bookrunners on the transaction.
This press release is not and does not constitute an offer to sell and there will be no public offering of the shares in any jurisdiction.
