Azelis recently announced the launch of its initial public offering on Euronext Brussels.
The price range for the Offering has been set at €22.00 to €26.00 per Offer Share.
Through the private placement of a maximum of 40,000,000 newly issued Shares (the "Primary Tranche") (based on the bottom of the Price Range), the Company aims to raise gross proceeds of approximately €880.0 million.
The price per Offer Share will be determined following a book-building process that is expected to commence shortly after the publication of this announcement and is expected to end no later than 4:00 p.m. (CEST) on September 21, 2021, subject to early closing. The Offer Price may be set within the Price Range or below the bottom of the Price Range but will not exceed the top of the Price Range. The decision regarding the exact number of Offer Shares to be placed (including pursuant to the exercise of the Over-Allotment Option) and the Offer Price are expected to be announced on September 22, 2021.
Dr. Hans Joachim Müller, Chief Executive Officer of Azelis, commented, "Azelis' ambition is to be the preeminent global innovation service provider for the specialty chemicals and food ingredients distribution market. Becoming a public company will assist us in that journey and is the natural, and exciting, next step in our development. We have achieved a great deal as a private company, using our expertise in innovation to help our customers create new products and enhance existing formulations in response to the fast-changing demands of today's marketplace. We believe we have the attributes to thrive as a listed business and expand our value-creating capabilities to a wider stakeholder base in the capital markets. To be able to embark on this process is proof of the journey our employees have been on so far, thanks to the efforts of everyone across the business."
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