Next Monday, January 22nd, Repsol starts its
presentation of the company's Public Share Offering (PSO) to international
investors. Two Repsol and SEPI teams will visit 22 cities in eight different
countries to explain the business outlook and share offering of the oil Group on
international markets.
This morning, the foreseen presentations to make
known the nature of the placement to institutional investors in the Spanish
tranche was brought to a close at the Valencia Stock Exchange, following
presentations yesterday to the Madrid, Barcelona and Bilbao Stock Markets by
Victor P�rez Pita, President of SEPI, and Oscar Fanjul, Chairman of
Repsol.
The first stage of the international roadshow will take place in
Continental Europe. On Monday, January 22nd, a Repsol and SEPI team led by the
company's Chairman, Oscar Fanjul, will begin this tight schedule of contacts
with international investors in Geneva and Zurich, moving on in the following
days to Paris, Dublin, Edinburgh and London. At the same time, a second team,
led by the Group's Vice-Chairman, Guzm�n Solana, will visit Frankfurt,
Stockholm, The Hague, Rotterdam, Eindhoven, Milan and London.
A week
later, on January 29th, these two teams will travel to the United States, where
they will stop off at several cities, including Boston, New York, Philadelphia,
Baltimore, Minneapolis, Denver, Los Angeles and San Francisco.
The
Sociedad Estatal de Participaciones Industriales (SEPI) has offered for sale 33
million shares in Repsol, accounting for 11% of the company's equity capital.
The PSO on Repsol shares comprises a retail and an institutional tranche
directed to both national and international markets. The institutional offering
is made up of the following tranches: Spain, United Kingdom, Continental Europe,
United States and the Rest of the World.
The institutional selling price
will be set on February 5th next, after closure of the day's session at the
Madrid Stock Exchange Continuous Market and the New York Stock Exchange. The
price per share will be fixed taking as reference the Repsol share price on the
Spanish Continuous Market and the price of ADS's on the New York Stock
Exchange.
On January 16th last, SEPI registered the Information Brochure
on the Public Share Offering of Repsol shares at the Comisi�n Nacional del
Mercado de Valores (CNMV). It also registered the Prospectus at the Securities
and Exchange Commission of the United States in Washington.
As far as the
retail tranche is concerned, the term for presentation of buying applications
closes on January 29th next. These applications may be revoked until 14.00 hours
on February 2nd when, if not revoked, they will become firm purchase orders.
Irrevokable buying orders may also be placed between January 30th and February
2nd, inclusively.
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