17 November, 2015
Scatec AS ("Scatec") and Itochu Corporation ("Itochu")
(together with Scatec, the "Selling Shareholders")
have retained ABG Sundal Collier, Carnegie and
Swedbank as joint bookrunners to explore the
opportunity to sell up to 16 million shares, up to 8
million shares each, in Scatec Solar ASA ("Scatec
Solar" or the "Company") through an accelerated
bookbuilding process (the "Placing").
The Placing represents up to approx. 17 percent of the
outstanding shares in in the Company. After the
completion of the Placing, Scatec is expected to hold
no less than 19,482,339 shares in Scatec Solar
(equivalent to no less than approx. 20.8 percent of
the outstanding shares in the Company), while Itochu
is expected to hold no less than 9,768,657 shares in
the Company (equivalent to no less than approx. 10.4
percent of the outstanding shares in the Company).
The bookbuilding will commence today at 16.30 CET. Any
sale of shares in Scatec Solar pursuant to the Placing
is subject to approval by the Selling Shareholders.
The Selling Shareholders have undertaken a customary
lock-up agreement with the joint bookrunners for the
remainder of their shares in the Company with a lock-
up period lasting 90 days from the completion of the
Placing.
Scatec is represented on the Board of Directors in the
Company (the "Board") by John Andersen (Chairman) and
Alf Bjørseth, while Itochu is represented on the Board
by Yuji Tachikawa. The Selling Shareholders are
therefore both subject to the disclosure requirements
of the Norwegian Securities Trading Act section 4-2.
Contacts:
ABG Sundal Collier: +47 22 01 60 04
Carnegie: +47 22 00 93 40
Swedbank: +47 23 23 82 08