The price range for the initial public offering (IPO) of Schott Solar AG, has been announced at €14.50 to €19.50 per share.
The range was determined by current shareholder SCHOTT AG as well as the Joint Global Coordinators and Joint Bookrunners Commerzbank, Deutsche Bank and J.P. Morgan.
A total of up to 33,673,684 shares will be offered. This total number breaks down into 28,000,000 shares from a cash capital increase resolved by the company´s general shareholders´ meeting on September 12, 2008, up to 1,473,684 shares held by the current shareholder SCHOTT AG, which will be making these available solely for preferential allocation within the framework of the employee participation program, plus an additional total of up to 4,200,000 shares under a greenshoe option, the latter shares also being provided by the current shareholder.
Assuming full placement of the capital increase within the price range now set, SCHOTT Solar AG will achieve gross issue proceeds between €406.0 million and €546.0 million. With all shares fully placed and the greenshoe option fully exercised, the free float will be roughly 40.1%.
The total issue size will amount to up to €656.6 million.
In 2007, Schott’s total PV production capacity worldwide was 130 MW. For 2010, Schott plans on a global yearly production capacity of crystalline solar cells and modules of about 450 MW each and additional capacity of 100 MW in ASI thin film technology.
Schott Solar is building a production facility in New Mexico for solar thermal and photovoltaic components.
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