Euronav NV announced today the upsizing and pricing of its initial public offering in the United States. The size of the offering has been increased from the initially announced 13,550,000 ordinary shares to 16,260,000 ordinary shares at an issue price per share of USD 12.25 for gross base proceeds of USD 199,185,000. The Company has granted the underwriters a 30-day option to purchase up to an additional 2,439,000 ordinary shares.
The Company’s ordinary shares offered in the United States are expected to commence trading on the New York Stock Exchange (the “NYSE”) today under the ticker symbol “EURN.” This offering is expected to close on January 28, 2015, subject to the satisfaction of customary closing conditions.
The Company’s previously issued ordinary shares continue to be traded on Euronext Brussels under the ticker symbol “EURN”. In this regard and with the intent to create a balanced dual listing of its ordinary shares, the Company plans to commence today a U.S. exchange offer to enable existing shareholders to reposition unregistered ordinary shares which are listed and may be traded on Euronext Belgium, other than ordinary shares owned by affiliates of the Company, for ordinary shares that have been registered under the Securities Act of 1933, as amended, which are listed and may be traded on the NYSE.
This procedure does not qualify as a “ruilbod” / “offre d’échange” under Belgian law, and will hereinafter be referred to as the “U.S. Exchange Offer.” The U.S. Exchange Offer and the risks associated therewith are described in the Company’s registration statement and related prospectus on Form F-4 (File No. 333-198626), which has been filed with and declared effective by the Securities and Exchange Commission (the “SEC”). A list of ‘Frequently Asked Questions’ relating to the U.S. Exchange Offer and the dual listing may be consulted on the Company’s website at www.euronav.com.
Deutsche Bank Securities Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are acting as joint book-running managers and as representatives of the underwriters for the initial public offering in the United States. DNB Markets, Inc., Evercore Group L.L.C. and Skandinaviska Enskilda Banken AB (publ) are acting as senior managers. ABN AMRO Securities (USA) LLC, Clarkson Capital Markets LLC, KBC Securities USA, Inc. and Scotia Capital (USA) Inc. and are acting as co-managers.
