The Offer for AWB shares closed today following strong demand from institutional investors, retail investors, AWB employees and existing shareholders.
AWB Limited’s Chief Executive and Managing Director, Mr Andrew Lindberg, said the Offer had been significantly oversubscribed.
“The response to the Offer has been extremely pleasing and it underlines a strong view among investors that AWB represents a quality investment,” Mr Lindberg said.
Under the AWB Limited Offer, the company has offered $80 million in new shares – priced a $3.15 per share – to institutions and retail investors, and a further $20 million in new shares to existing shareholders and AWB employees.
Along with the 242 million shares currently on issue and owned mostly by wheat growers, these new shares will be listed on the Australian Stock Exchange (ASX) as part of the AWB float. In total AWB will have over 273 million shares listed on the ASX of which the vast majority are owned by Australian wheat growers.
Mr Lindberg said in light of the significant demand for AWB shares, the company will determine a fair and equitable allocation policy.
AWB shares will commence deferred delivery trading on the ASX at 12.00 noon on Wednesday 22 August 2001. The last day of deferred settlement trading will be 4th September 2001.
Mr Lindberg said applicants wanting to know the number of shares allocated to them prior to AWB listing can contact AWB’s Share Registry on 1800 810 032 on the 22nd August from 8am. In addition, AWB’s allocation policy will appear in national newspapers and on AWB’s website, www.awb.com.au, on the 22nd August.
Chess Allotment Notices and Issuer Sponsored Statements of shareholdings for successful applications are expected to be mailed out on Wednesday 29th August. Refund cheques for applications that were not successful or were scaled back are also expected to be mailed on this date.
For further information, please contact:
Peter McBride Mark Triffitt
AWB Limited Gavin Anderson & Company
Tel: (03) 9209 2174 or 0417 662 451 Tel: 0413 876 810