Acting after government authorization, the Board of Directors of Ducati Motor Holding S.p.A. have released the prospectus relating to the offer of Euro 80 million ($101.5 million) worth of stock in Ducati Motor Holding S.p.A.
The Board of Directors approved that 1) the maximum number of new shares to be issued under the capital increase is 160,343,960; 2) the relative issuing share price is Euro 0.4985; and 3) the ratio between shares offered by way of subscription rights and shares owned is 1 new share per 1 owned share.
The offer period and negotiation on the stock market of subscription rights will begin on May 8; the last day of negotiation on the stock market of subscription rights will be May 19; and the offer period will end on May 26, which is also the last day for payment of the new shares.
Subscription rights not exercised by May 26 will be offered on the stock market by Ducati Motor Holding S.p.A. At present, the expected start and end dates of the period for the offer on the stock exchange will be from June 5 to June 9.
UniCredit Banca Mobiliare S.p.A. and the other members of the syndicate of stand-by underwriters will subscribe to all the shares that may remain unsubscribed to at the end of the offer period on the stock market.
Ducati officials say the capital increase is related to financing the company's three-year re-launch plan (April 25, www.powersportsbusiness.com). They say key elements of the three-year plan include a concentration on the high end of the market, emphasis on increasing margins, generation of cash-flow and a reduction in fixed costs.
Read the May 15 issue of Powersports Business for more news from Ducati.
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