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2016-05-20

Kamux Oyj: Kamux Corporation announces preliminary price range for its contemplated initial public offering and further information about the listing of its sha

KAMUX CORPORATION

PRESS RELEASE
MAY 20, 2016

Not for publication, distribution or release, in whole or in part, directly or
indirectly, in or into the United States, Australia, Canada, Hong Kong,
Japan, New Zealand, South Africa or Singapore.

Kamux Corporation announces preliminary price range for its contemplated
initial public offering and further information about the listing of its
shares on Nasdaq Helsinki

Kamux Corporation ("Kamux" or "Company"), a car retail chain specializing in
the sale of used cars and related integrated services that has grown rapidly
and operates in Finland, Sweden and Germany, announces the preliminary price
range (the "Preliminary Price Range") for its contemplated initial public
offering (the "Offering"). On May 9, 2016, the Company announced its
intention to float and list its shares on Nasdaq Helsinki Ltd's (the
"Helsinki Stock Exchange") official list.

The Offering in Brief

* Preliminary Price Range in the Offering is EUR 6.80 - 8.20 per share. *
Based on the Preliminary Price Range, the market capitalization of the
Company is approximately EUR 275 - 332 million.[1]
* In the contemplated Offering: * The Company is offering up to 2,696,297 new
shares in the Company (the "New Shares") for subscription (the "Share
Issue"), and certain existing shareholders of the Company (the "Sellers")
are preliminarily offering up to 10,140,288 existing shares in the Company
(the "Sale Shares") for sale (the "Share Sale"). * The Offering consists of
(i) a public offering to private individuals and entities in Finland (the
"Public Offering"), (ii) an offering to the permanent employees of Kamux,
excluding members of personnel who are shareholders of the Company as at
the date of the offering circular (the "Personnel Offering") and (iii)
private placements to institutional investors outside of the United States
(the "Institutional Offering"). * New Shares will be offered for
subscription in the Institutional Offering, the Public Offering and the
Personnel Offering. * Sale Shares will be offered for sale in the
Institutional Offering. * Certain institutional investors ("Cornerstone
Investors") have each individually committed to subscribe for the Offer
Shares (as defined hereinafter) in the Offering at the final subscription
price and throughout the Preliminary Price Range. The total commitments of
the Cornerstone Investors amount to EUR 30.0 million. The Cornerstone
Investors are Swedbank Robur Fonder AB (EUR 15.0 million) and Elo Mutual
Pension Insurance Company (EUR 15.0 million). * Intera Fund II Ky
("Intera") has agreed to grant to the Managers (as defined hereinafter) an
over-allotment option, exercisable within 30 days from the commencement of
trading of the shares in the Company (the "Shares") on the Helsinki Stock
Exchange (estimated to be between June 3, 2016 and July 2, 2016), to
purchase or to procure purchasers for up to 1,925,487 additional Shares
(the "Additional Shares") solely to cover over-allotments (the
"Over-allotment Option").
* Offer Shares represent approximately 31.7 percent of Shares and votes in
the Company after the Offering without the Over-allotment Option
(approximately 36.4 percent with the Over-allotment Option) assuming that
the Share Issue is fully subscribed for.
* The Company intends to raise gross proceeds of approximately EUR 20 million
from the Share Issue.
* Approximately 36 percent of the Shares are expected to be freely trading
(free float) after the listing, assuming that the maximum number of Shares
is subscribed for in the Share Issue and sold in the Share Sale, and that
the Over-allotment Option is exercised in full.
* The value of the Offering is, based on the Preliminary Price Range,
approximately EUR 100 - 121 million assuming that the Share Issue is fully
subscribed for, the maximum number of Shares is sold in the Share Sale and
that the Over-allotment Option is exercised in full.
* The subscription period for the Offering will commence on May 23, 2016 at
10:00 am (Finnish time). The subscription period for the Public Offering
and the Personnel Offering will end on June 1, 2016 at 4:00 p.m. (Finnish
time) and the subscription period for the Institutional Offering will end
on June 2, 2016 at 12:00 p.m. (Finnish time).
* The Public Offering, the Institutional Offering or the Personal Offering
can be discontinued or extended, provided that the subscription period will
in no event end prior to May 30, 2016 or continue after July 1, 2016.
* Trading in the Shares is expected to commence on the pre-list of the
Helsinki Stock Exchange on or about June 3, 2016, and on the official list
of the Helsinki Stock Exchange on or about June 7, 2016 under the trading
code "KAMUX".

CEO and Founder of Kamux Corporation, Juha Kalliokoski:

"Kamux's business model is based on professional procurement and sale of used
cars, low fixed costs, rapid inventory turnover, and sales of integrated
services. Our vision is to be the leading car retail chain in Europe
specializing in the sale of used cars. The Listing will support this vision.
As the founder of the Company I have been with Kamux since the beginning, and
for me, the Listing means the continuation of work together with new
shareholders. Because of this, I do not intend to sell my shares in the
Listing as my objective is to develop the company further and create
long-term shareholder value."

Chairman of the Board of Directors of Kamux Corporation, Matti Virtanen:

"Kamux has developed a retail concept where the focus is 100% on used cars,
and customers are presented with an offering that serves their needs. The
Company's history of strong, profitable growth shows the viability of the
business model. The Listing will improve the visibility of Kamux and support
its strategy of continuing strong growth in Finland and internationally.
Capital raised from the Listing enable more sizeable investments in growth
and internationalization as well as deepening of the digital customer
experience."

CEO of Intera Partners and Member of the Board of Directors of Kamux
Corporation, Jokke Paananen:

"Intera is proud of the work Kamux has done in developing a new approach and
concept in a traditional market. We foresee a huge opportunity in Kamux's
well-organized and customer-centric business model also going forward, and we
will continue as a significant owner also after the Listing. We welcome new
investors to become part of the Kamux growth story."

Background and reasons for the Offering

The objective of the contemplated Offering is to support Kamux's growth
strategy and internationalization by increasing Kamux's visibility in Finland
and abroad, which is expected to increase Kamux's recognition and trust in
Kamux among the public and cooperation partners and as an employer. The
Offering will enable the Company to obtain access to capital markets, expand
its ownership base and increase the liquidity of the Shares. Through the
listing, the Shares can also be used to reward Kamux's personnel and
management.

Use of Proceeds

The Company will receive gross proceeds of approximately EUR 20 million from
the Share Issue (calculated based on the mid-point of the Preliminary Price
Range and assuming that the Share Issue is fully subscribed for). The
proceeds raised by the Company through the Share Issue will be used to
support Kamux's growth strategy, including to finance Kamux's expansion and
internationalization, such as working capital and growth of car inventory,
and to strengthen Kamux's business operations, such as further development of
internal systems and opening of an online store.

Information on the Offering

The Company is offering up to 2,696,297 New shares for subscription to
institutional investors outside of the United States and to private
individuals and entities in Finland as well as to the permanent employees of
Kamux. The Shares are offered in deviation from the shareholders' pre-emptive
subscription right in order to enable the listing of the Shares on the
official list of the Helsinki Stock Exchange (the "Listing"). Board of
Directors of the Company is expected to resolve on or about June 2, 2016 on
the number of New Shares to be issued in the Share Issue.

The payment made to the Company for the approved New Share subscription will
be booked in its entirety in the invested unrestricted equity fund. Thus, the
Company's share capital will not increase in connection with the Share Issue.
As a result of the Share Issue, the number of the Shares may increase up to
40,503,051 Shares. The New Shares issued in the Share Issue represent a
maximum of approximately 6.7 percent of the Shares and votes after the Share
Issue, assuming that the Share Issue is fully subscribed for.

The Sellers will offer for purchase initially a maximum of 10,140,288 Sale
Shares to institutional investors outside of the United States. Shares
offered in the Share Sale represent approximately 25.0 percent of the Shares
and votes without the Over-allotment Option (approximately 29.8 percent with
the Over-allotment Option) after the Share Issue, assuming that the Share
Issue is fully subscribed for.

If the Offering is not subscribed for in full and the Offering would
nevertheless be completed, the subscriptions would be allocated firstly to
New Shares, and, thereafter, the number of Sale Shares would be reduced on
apro rata
basis to correspond to the number of Shares offered for purchase by the
Sellers.

Intera has agreed to grant to the Managers an over-allotment option,
exercisable within 30 days from commencement of trading in the Shares on the
Helsinki Stock Exchange (i.e.
, between approximately June 3, 2016 and July 2, 2016), to purchase or to
procure purchasers, for up to 1,925,487 Additional Shares solely to cover
over-allotments. The Additional Shares correspond to approximately 5.1
percent of the Shares and votes before the Offering and approximately 4.8
percent after the Offering, assuming that the Share Issue is fully subscribed
for. Unless the context indicates otherwise, the New Shares, the Sale Shares
and the Additional Shares are referred to herein as the "Offer Shares."

Preliminary schedule

* The Finnish language prospectus will be approved on or about May 20, 2016
* Subscription period of the Offering commences on May 23, 2016
* The Public Offering, the Institutional Offering or the Personal Offering
can be discontinued at the earliest on May 30, 2016
* Subscription period for the Personnel Offering for the private placements
executed in Sweden and Germany ends on May 30, 2016
* Subscription period of the Public Offering and the Personnel Offering at OP
Financial Group's website ends on May 31, 2016 <...

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