News Column

Partial exercise of IPO over-allotment option

May 15, 2014

newsbox.ch

For release in Switzerland only. This press release or the information contained therein is not being issued and may not be distributed in the United States of America, Canada, Australia or Japan and does not constitute an offer of securities for sale in such or any other countries.



Partial exercise of IPO over-allotment option



Partial exercise of IPO over-allotment option at the offer price of CHF 48.00 per share


Chiasso / Zurich, May 15, 2014 - Bravofly Rumbo Group, a leading European online travel agency ("OTA"), announces that the Joint Global Coordinators, acting on behalf of the syndicate banks, have partially exercised the over-allotment option at the offer price of CHF 48.00 per share, as part of its Initial Public Offering ("IPO").


On April 15, 2014, Bravofly Rumbo Group (ticker symbol: BRG) was traded for the first time on SIX Swiss Exchange. The syndicate of banks consisting of Credit Suisse, Morgan Stanley and UBS as Joint Global Coordinators and Joint Bookrunners, and Mediobanca as Joint Bookrunner, have decided today to partially exercise the over-allotment option. The 73,920 bearer shares covering the over-allotment option have been placed in the market at CHF 48.00 per share and are sourced from newly-issued shares.


Including the shares placed in connection with the over-allotment option, a total of 5,406,420 offered shares have been sold in the IPO of Bravofly Rumbo Group, corresponding to 37.0% of the share capital (after the partial exercise of the over-allotment option). The offer size of the IPO therefore amounts to CHF 260 million of which gross proceeds from the primary shares issued are CHF 109 million (after the partial exercise of the over-allotment option). The aggregate number of shares in issue after the partial exercise of the over-allotment option is 14,622,631 bearer shares.


Bravofly Rumbo Group and all shareholders (other than Directors and Management and selling shareholders controlled by Directors or Management), have committed to a lock-up period of 180 days from the first day of trading, while the Board of Directors and Management have agreed to a lock-up of 360 days from the first day of trading, respectively, subject to customary exceptions.


About Bravofly Rumbo Group

Bravofly Rumbo Group is a Swiss-based online travel agency, or OTA, with a strong presence in Europe. Its web and mobile platforms enable consumers to easily search for, compare and book flights with both traditional airlines and low cost carriers, as well as hotel accommodation, package holidays, cruises, rental cars and other travel-related products and services. The Group traces its roots to 2004, with the launch of Volagratis, a pioneer search engine for low cost flights in the Italian market. Today it operates websites in 14 languages and localized for 35 countries. Its core markets are Italy, Spain and France. The Bravofly Rumbo Group is strengthening its position in other European markets such as Germany, Eastern Europe and Scandinavia, and expanding to untapped markets in selected Asian Pacific and Latin American countries. The Group operates under a number of key brands, including Bravofly, Rumbo, Volagratis, Jetcost, Crocierissime, Viaggiare and Viajar. With more than 4.5 million passengers handled per year, Bravofly Rumbo Group complements its online offer with customer service support in 12 languages.


For more information, please visit bravoflyrumbogroup.com


Media contacts


Bravofly Rumbo Group

Priscilla Daroda

mob.: +39 335 7064892

e-mail: priscilla.daroda@rumbo.com


Rosangela Leone

mob.: +41 76 393 83 56

e-mail: rosangela.leone@rumbo.com


IRF Communications AG

Martin Meier-Pfister

Direct: +41 43 244 81 40

mob.: +41 79 200 85 00

e-mail: martin.meier-pfister@irfcom.ch


This publication constitutes neither an offer to sell nor a solicitation to buy securities of Bravofly Rumbo Group (the "Company") and it does not constitute a prospectus within the meaning of article 652a and/or 1156 of the Swiss Code of Obligations or a listing prospectus within the meaning of the listing rules of the SIX Swiss Exchange or a prospectus within the meaning of section 5:2 of the Dutch Financial Markets Supervision Act. The securities have already been sold.


This communication is made only to and directed only at persons (i) who are outside the United Kingdom or (ii) who have professional experience in matters relating to investments and who fall within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Order") or (iii) who fall within article 49(2)(a) to (d) ("high net worth companies, unincorporated associations etc.") of the Order (all such persons together being referred to as "Relevant Persons"). Any investment or investment activity to which this communication relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. Any person who is not a Relevant Person must not act or rely on this communication or any of its contents.


This communication is not for distribution in the United States, Canada, Australia or Japan. This communication does not constitute an offer to sell, or the solicitation of an offer to buy, securities in any jurisdiction in which is unlawful to do so. In particular, this communication is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration under the Securities Act of 1933 or an exemption from registration. The securities referred to in this communication have not been and will not be registered under the Securities Act and will not be publicly offered or sold in the United States.


This communication does not constitute an "offer of securities to the public" within the meaning of Directive 2003/71/EC of the European Union (the "Prospectus Directive") of the securities referred to in it (the "Securities") in any member state of the European Economic Area (the "EEA"). Any offers of the Securities to persons in the EEA will be made pursuant to an exemption under the Prospectus Directive, as implemented in member states of the EEA, from the requirement to produce a prospectus for offers of the Securities.


In connection with the offer or sale of the securities referred to herein, the Joint Global Coordinators may over-allot the securities or effect transactions with a view to supporting the market price of the securities at a level higher than that which might otherwise prevail. Any stabilisation action or over-allotment will be conducted by the Joint Global Coordinators in accordance with all applicable laws and rules. Save as required by law or regulation, the Joint Global Coordinators does not intend to disclose the extent of any stabilisation action. No representation is made as to whether the Joint Global Coordinators will engage in any stabilisation activity or that this activity, if commenced, will not be discontinued without notice.


For the avoidance of doubt, none of the Joint Global Coordinators makes any representation or warranty that it intends to accept or be bound to any of the information contained herein nor shall the Joint Global Coordinators be obliged to enter into any further discussions or negotiations pursuant thereto but shall be entitled in their absolute discretion to act in any way that they see fit in connection with the proposed transaction. Any discussions, negotiations or other communications that may be entered into, whether in connection with this communication or otherwise, shall be conducted subject to contract. No representation or warranty express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by any of the Joint Global Coordinators or any of their respective officers, employees or agents as to or in relation to the accuracy or completeness of this communication, publicly available information on the Company or any other written or oral information made available to any interested party or its advisors and any liability therefore whether in contract, tort or otherwise is hereby expressly disclaimed.


The Joint Global Coordinators are acting on behalf of the Company and no one else in connection with the securities referred to herein and will not be responsible to any other person for providing the protections afforded to clients of the Joint Global Coordinators, or for providing advice in relation to the securities referred to herein.






Press release (PDF)







Provider

Channel

Contact
Tensid Ltd., Switzerland

www.tensid.ch





newsbox.ch

www.newsbox.ch





Provider/Channel related enquiries

marco@tensid.ch

+41 41 763 00 50


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: Tensid Regulatory


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters