Celanese Corp declares pricing of secondary offering
21 Nov '05
2 min read
Integrated global producer of value-added industrial chemicals,Celanese Corporation announced that certain of its stockholders had priced an offering of 12,000,000 shares of its class A common stock.
The selling stockholders have also granted to the underwriter of this offering an over-allotment option to purchase up to an additional 1,800,000 shares of class A common stock.
All of the remaining shares of class A common stock held by the selling stockholders after this offering will be subject to a 60-day "lock-up" period. Selling stockholders will receive $205,200,000 aggregate proceeds from this offering ($235,980,000 if the underwriter's over-allotment option is exercised in full).
The Company will not receive any of the proceeds from the offering. Credit Suisse First Boston is acting as the sole book-running manager and the sole underwriter for this offering.
A prospectus supplement relating to the offering will be filed with the Securities and Exchange Commission. When available, copies of the prospectus supplement and accompanying base prospectus relating to the offering may be obtained by contacting: Credit Suisse First Boston LLC, Eleven Madison Avenue, New York, New York 10010-3629.
Celanese Corporation is an included global manufacturer of value-added industrial chemicals based in Dallas, Texas. The Company has four major businesses: Chemicals Products, Technical Polymers Ticona, Acetate Products and Performance Products. Celanese has production plants in 13 countries in North America, Europe and Asia.
In 2004, Celanese Corporation and its predecessor had combined net sales of $5.1 billion. The presentation of combined net sales of Celanese Corporation with its predecessor is not in accordance with U.S. GAAP.
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