CEVA Logistics plans IPO on SIX Swiss Exchange NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA OR CANADA, AUSTRALIA, JAPAN OR ANY OTHER JURISDICTION WHERE SUCH DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. NEITHER THESE MATERIALS NOR THE INFORMATION CONTAINED HEREIN CONSTITUTE AN OFFER FOR SALE OF ANY SECURITY THIS NEWS RELEASE DOES NOT CONTAIN OR CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF ANY OFFER TO BUY SECURITIES IN THE UNITED STATES OR IN ANY OTHER JURISDICTION IN WHICH SUCH OFFER OR SOLICITATION IS NOT AUTHORISED OR TO ANY PERSON TO WHOM IT IS UNLAWFUL TO MAKE AN OFFER OR SOLICITATION. THE SECURITIES OF CEVA LOGISTICS AG HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES LAWS AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED. THERE WILL BE NO PUBLIC OFFER OF THESE SECURITIES IN THE UNITED STATES.
CEVA Logistics plans IPO on SIX Swiss Exchange Baar, Switzerland, 9 April, 2018 – CEVA Logistics (“CEVA” or the “Company”), one of the world’s leading third-party logistics companies with USD 7.0 billion of revenue today announces its intention to conduct an initial public offering (IPO) and to list its shares on SIX Swiss Exchange. The proposed IPO is expected to consist of an all primary offering in the amount of approximately CHF 1.3 billion. The objective of the IPO is to accelerate the execution of the Company’s growth and margin expansion strategy by strengthening the balance sheet. CEVA expects to list in the second quarter of 2018, subject to market conditions. Company highlights
Transaction highlights
Xavier Urbain, CEO of CEVA said: “Our global presence, end-to-end service offering in contract logistics and freight forwarding, our balanced blue-chip customer portfolio and our strong capabilities make CEVA stand-out among third-party logistics providers. Our improving financial results and new business wins are confirmation of the successful execution of our strategy to establish CEVA as one of the global leaders in the asset-light logistics industry. The planned IPO and deleveraging will allow us to open the next chapter in the development of the Company: CEVA will be able to accelerate organic growth and participate in market consolidation. We are executing plans to further improve our profitability significantly and we are confident that we can deliver attractive returns to shareholders.” Global player with comprehensive service portfolio CEVA is one of the world’s leading third-party logistics companies and offers a broad spectrum of services in both Contract Logistics (Warehousing, Distribution, Value-Added Services), where it is No. 5 worldwide, and Freight Management (Air, Ocean, Ground, Customs Brokerage, other), ranking No. 10. In 2017, the Company generated revenues of USD 7.0 billion with over 56,000 employees and temporary/agency workers in more than 1,000 locations. CEVA covers 160 countries with balanced coverage and significant exposure to high-growth markets – Asia Pacific accounted for 26% of revenues in 2017, the Americas for 33% and Europe, Middle East and Africa for 40%. CEVA serves a diversified blue-chip customer base across logistically intensive industry verticals. Consumer and Retail, including e-commerce, generated 29% of revenues in 2017, Automotive 25%, Industrial and Aerospace 22% and Technology 15%. Strong strategic platform CEVA’s global presence, its comprehensive service portfolio, skilled people, as well as its solution expertise and technology capabilities, give it a strong strategic platform for the future and is well positioned to compete in its core segments. Poised to benefit from favourable industry dynamics Successful transformation under new management team Further substantial earnings upside from cost reductions and growth opportunities Deleveraging from IPO New Board of independent Directors Current principal shareholders remain invested Offer summary Notes to the Editors:
This news release does neither constitute an offer to buy or to subscribe for securities of CEVA Logistics AG nor a prospectus within the meaning of applicable Swiss law (i.e. article 652a of the Swiss Code of Obligations) nor a listing prospectus within the meaning of article 27 et seq. of the SIX Swiss Exchange Listing Rules or within the meaning of similar rules of any other exchange or regulated trading venue in Switzerland. Investors should make their decision to buy or to subscribe for shares of CEVA Logistics AG solely based on the offering and listing prospectus published by CEVA Logistics AG for such purpose. The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy, in any jurisdiction in which such offer or solicitation would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any jurisdiction. This news release is not for distribution, directly or indirectly, in or into the United States (including its territories and dependencies, any state of the United States and the District of Columbia), Canada, Japan, Australia or any jurisdiction into which the same would be unlawful. This news release does not constitute or form a part of any offer or solicitation to purchase, subscribe for or otherwise acquire securities in the United States, Canada, Japan, Australia or any jurisdiction in which such an offer or solicitation is unlawful. CEVA Logistics AG shares have not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act") or under any securities laws of any state or other jurisdiction of the United States and may not be offered, sold, taken up, exercised, resold, renounced, transferred or delivered, directly or indirectly, within the United States except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the United States. There will be no public offer of these securities in the United States. The CEVA Logistics AG shares have not been approved or disapproved by the US Securities and Exchange Commission, any state's securities commission in the United States or any US regulatory authority, nor have any of the foregoing authorities passed upon or endorsed the merits of the offering of the CEVA Logistics AG shares or the accuracy or adequacy of this announcement. Any representation to the contrary is a criminal offence in the United States. As regards the United Kingdom, this news release is being distributed for information purposes only and its distribution is not, nor is it intended to be, a communication of an invitation or inducement to engage in investment activity or an offer of securities to the public in the United Kingdom. No prospectus offering securities to the public will be published in the United Kingdom. Without prejudice to the foregoing, this news release, and any other material related thereto, is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order"), or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within article 49(2)(a) to (e) of the Order or (iv) are persons falling within article 43 of the Order; (v) persons to whom an invitation or inducement to engage in investment activity (within the meaning of section 21 of the Financial Services and Markets Act 2000, as amended, in connection with the issue or sale of shares of CEVA Logistics AG as shall be described in the offering and listing prospectus published by CEVA Logistics AG for that purpose) may otherwise be lawfully communicated or caused to be communicated (all such persons together being referred to as "relevant persons"). The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this news release or any of its contents. Any offer of securities to the public that may be deemed to be made pursuant to this news release in any EEA Member State that has implemented Directive 2003/71/EC of the European Union (and any amendments thereto, including Directive 2010/73/EC to the extent implemented in the relevant EEA Member State, together with any applicable implementing measures in any Member State, the "Prospectus Directive") is only addressed to qualified investors in that Member State within the meaning of the Prospectus Directive. The Managers and their affiliates are acting exclusively for the Company and no one else in connection with the offering. The Managers will not regard any other person as their respective clients in relation to the offering and will neither be responsible for providing the protections afforded to clients nor for providing advice in relation to the potential offering, the contents of this announcement or any transaction, arrangement or other matter referred to herein. CEVA Logistics Financial Media Trade Media
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