"We are delighted that our shares are in such high demand from international and domestic investors. The successful placement of the shares shows that our business model and economic performance have been very well received by the capital market,” said Herbert K. Haas, Chief Executive Officer of Talanx AG.
By allocating 25.5 million shares at the placement price, Talanx has generated gross proceeds of approximately EUR 467 million. An additional approximately 2.7 million shares were used for overallotments. If the greenshoe option granted to the underwriting banks is fully exercised, Talanx will receive additional gross proceeds of approximately EUR 50 million. Assuming a fully exercised greenshoe, Talanx will therefore generate more than the targeted gross proceeds of EUR 500 million. The free float will in this case amount to approximately 11.2 percent.
In addition, the strategic partner Meiji Yasuda Life Insurance is, as previously announced, converting its EUR 300 million subordinated bond held since November 2010 into shares of Talanx AG at the IPO price. Meiji Yasuda will thus hold a stake of approximately 6.5 percent in Talanx AG in future assuming a fully exercised greenshoe.
The information contained in this news release is not for publication or distribution in the United States of America, Canada, Australia or Japan and does not constitute an offer of securities for sale in the United States of America, Canada, Australia or Japan. Talanx AG does not intend to conduct a public offering of securities in any jurisdiction other than the Federal Republic of Germany and the Grand Duchy of Luxembourg. The public offering was based exclusively on a prospectus published by Talanx AG.
Disclaimer
This news release does not constitute an offer to sell or the solicitation of an offer to purchase the shares or other securities of Talanx AG. The shares of-fered in connection with the initial public offering have already been placed.
In particular, this news release is not an offer of securities for sale in the United States of America. Securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the "Securities Act"). Any public offering of securities of Talanx AG to be made in the United States of America would have to be made by means of a prospectus that could be obtained from Talanx AG and that would contain detailed information about the company and management, as well as financial statements. Neither Talanx AG nor its shareholder intends to register any part of the offering in the United States of America.