Offer NIBC IPO priced at EUR 8.75 per share

01 Apr Offer NIBC IPO priced at EUR 8.75 per share

NIBC announces that the ordinary shares in the IPO on Euronext Amsterdam have been priced at EUR 8.75. The offering will give the company financial and strategic flexibility to continue to support growth and shareholder returns.

Axeco Corporate Finance is pleased to have advised the board of NIBC

NIBC Holding N.V. (the “Company” and together with its subsidiaries “NIBC”), an entrepreneurial Dutch bank focused on its clients’ most decisive financial moments, announces that the ordinary shares in NIBC (the “Shares”) offered by a number of entities advised by J.C. Flowers & Co. (the “Selling Shareholders”) in the initial public offering on Euronext Amsterdam (the “IPO” or the “Offering”) have been priced at EUR 8.75 per Share (the “Offer Price”). Listing of and first trading in the Shares on an “as-if-and-when-delivered” basis on Euronext Amsterdam will commence on Friday 23 March 2018.

Statement of the CEO, Paulus de Wilt:

“With the listing of NIBC on Euronext Amsterdam, we now celebrate our own decisive moment. Despite heightened market volatility in recent days, we were glad to see strong investor interest. We have seen great appetite from Dutch and international institutional investors, combined with an exceptionally strong retail demand. We believe our position of being a focused bank with a differentiated approach is well appreciated. We have been able to sustainably generate capital to support growth and shareholder returns. Being a public company will give us the financial and strategic flexibility to continue this successful strategy in the future. We look forward to the opportunities and benefits of being a listed company and welcome our new shareholders and thank them for their trust in NIBC.”

Highlights

• The Offer Price has been set at EUR 8.75, implying a market capitalisation of EUR 1,280 million for NIBC.
• The number of Shares sold is 36,577,203 (the “Offer Shares”), representing approximately 25% of NIBC’s issued share capital prior to the exercise of the Over-Allotment Option (as defined below). If the Over-Allotment Option is exercised in full, the total number of Shares will increase to 39,302,204 – representing up to approximately 27% of the Shares.
• The total size of the Offering amounts to EUR 320 million, or approximately EUR 344 million if the Over-Allotment Option is exercised in full.
• Listing of and first trading in the Shares on an “as-if-and-when-delivered” basis on Euronext Amsterdam under the symbol “NIBC” will commence on Friday 23 March 2018.
• Delivery of and payment for the Offer Shares and the start of unconditional trading in the Shares are expected to take place on Tuesday 27 March 2018 (the “Settlement Date”).

Further details on the Offering

The Selling Shareholders have granted the Joint Global Coordinators, on behalf of the underwriters (defined below), as part of the Offering, an Over-Allotment Option of up to 2,725,001 additional shares (the “Additional Shares”). The Over-Allotment Option can be exercised to cover short positions resulting from any over-allotments made, in connection with the Offering or stabilisation transactions, if any. The Over-Allotment Option can be exercised within 30 calendar days after the first trading date. The Offer Shares, including the Additional Shares, will amount to 39,302,204 Shares, and represent approximately 27% of the total number of Shares. The Selling Shareholders will hold approximately 74% of the Shares (or approximately 72% if the Over-Allotment Option is exercised in full). The Shares held by the Selling Shareholder will be subject to a lock-up period of 180 days after the Settlement Date, subject to certain customary exceptions and waiver by the joint global coordinators. The Company has also agreed to a lock-up period of 180 days after the Settlement Date, subject to certain customary exceptions and waiver by the joint global coordinators.

About NIBC

NIBC is the bank of choice for decisive moments. Their corporate client business offers a combination of corporate finance and capital markets, financing and investing in the sectors Food, Agriculture, Retail & Health, Industries & Manufacturing, Infrastructure & Renewables, Commercial Real Estate, Offshore Energy, Shipping & Intermodal and Telecom, Media, Technology & Services. Their retail client offering provides residential mortgages in the Netherlands and online retail saving deposits in the Netherlands, Belgium and Germany via NIBC Direct. Headquartered in The Hague, NIBC also has offices in Frankfurt, Amsterdam, London and Brussels.