Ducati Motor Holding Announces Global Initial Public Offering
5 March 1999
Ducati Motor Holding Announces Global Initial Public Offering
BOLOGNA, Italy, March 4 -- Ducati Motor Holding SpA, a
leading manufacturer of high performance motorcycles, today announced the
global initial public offering of 90,200,000 shares of its common stock, in
the form of shares or American Depositary Shares. The offering will be
comprised of 17,000,000 new shares to be issued by the Company and
73,200,000 shares to be sold by TPG Motorcycle Acquisition L.P. and TPG
Motorcycle Belgium S.A. (affiliates of Texas Pacific Group), Motorcycle
Investment S.a.r.l. (an affiliate of Deutsche Morgan Grenfell Capital Italy)
and Cefisio-Comercio Internacional e Servicos Lda. (collectively, the "Selling
Shareholders"). Upon completion of the offering (and a concurrent private
placement to persons outside the United States), approximately 68.7% of the
Company's outstanding shares will be held by the public, and approximately
31.3% will be held by the Selling Shareholders (if the underwriters' over-
allotment option to purchase up to an additional 13,530,000 shares is
exercised in full).
It is anticipated that the American Depositary Shares, each representing
10 shares, will be approved for listing on the New York Stock Exchange under
the symbol "DMH". The shares will be listed in Italy on the Mercato
Telematico Azionario.
The indicated price ranges for the offering are between Euros 2.50 and
Euros 3.10 per share (Lit. 4,841 and Lit. 6,002) and US$27.49 and US$34.08
per ADS.
Credit Suisse First Boston, Mediobanca and Banca Commerciale Italiana will
act as joint global coordinators of the public offering. Credit Suisse First
Boston and Mediobanca are joint lead managers of the U.S. and international
tranche, with Lehman Brothers, Merrill Lynch, Banca Commerciale Italiana and
Cazenove acting as co-managers.
A registration statement relating to these securities has been filed with
the Securities and Exchange Commission but has not yet become effective.
These securities may not be sold nor may offers to buy be accepted prior to
the time the registration statement becomes effective.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of these
securities in any state or other jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or other jurisdiction. A copy of
the preliminary prospectus may be obtained from Credit Suisse First Boston, 11
Madison Avenue, New York, New York, Tel: 212-325-2288 in the U.S. and One
Cabot Square, London, E14 4QJ, UK, Tel: 44-0171-888-3068 or Mediobanca, Via
Filodrammatici, 10; 20121 Milan, Italy, Tel: 3902-88291 in Europe.
Founded in 1926, Ducati is widely recognized among enthusiasts to
represent racing-inspired motorcycles characterized by unique engine features,
innovative design, advanced engineering and overall technical excellence. The
Company produces motorcycles in four market segments which vary in their
technical and design features and intended customers: HyperSport, Super Sport,
Sport Naked and Sport Touring. The Company's motorcycles are sold in more
than 40 countries worldwide, with a primary focus in the Western European and
North American markets.
This press release contains statements that are forward-looking and are
subject to a number of risks and uncertainties that could cause actual results
to differ materially from those anticipated.