MOSCOW (MRC) -- Royal DSM, a global science-based company active in health, nutrition and materials, on 27 July announced the successful completion of its secondary offering of 4,761,905 ordinary shares in Patheon N.V. in connection with Patheon N.V.’s Initial Public Offering of ordinary shares, said the company on its site.
The total cash proceeds for DSM from the secondary offering and the transactions related to the IPO are expected to amount to approximately USD240 million.
DSM now holds approximately 48.7 million ordinary shares, or approximately 34% of Patheon N.V., with approximately 43% held by affiliates of JLL Partners and Patheon N.V.’s management team and 23% free float.
Total cash proceeds for DSM are expected to amount to approximately USD240 million, consisting of net proceeds of approximately USD95 million from the secondary offering and an expected USD145 million in dividend distributions and capital repayments related to the IPO.
DSM expects to realize a book profit of approximately EUR220m, which will be reported as part of DSM’s Q3 2016 results, while any potential future gains on disposal of the remaining shares held in Patheon N.V., if any, will be recognized at the time of any such transaction(s). Patheon N.V. did not receive any proceeds from the sale of ordinary shares by DSM.
As MRC informed earlier, Royal DSM is once again extending its range of ForTii high performance polyphthalamides based on polyamide 4T.
Royal DSM is a global science-based company active in health, nutrition and materials. DSM delivers innovative solutions that nourish, protect and improve performance in global markets such as food and dietary supplements, personal care, feed, pharmaceuticals, medical devices, automotive, paints, electrical and electronics, life protection, alternative energy and bio-based materials.
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