Hunter Res. (LSE:HUN)
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Huntsman Corporation Prices Initial Public Offering
SALT LAKE CITY, Feb. 10 /PRNewswire-FirstCall/ -- Huntsman Corporation
(NYSE:HUN) announced today the pricing of an initial public offering of
60,227,274 shares of common stock at $23.00 per share and 5,000,000 shares of
5% mandatory convertible preferred stock at $50.00 per share. Net proceeds to
the Company from the offering of 55,681,819 primary shares and the mandatory
convertible preferred stock will be approximately $1.45 billion, substantially
all of which will be used to repay outstanding indebtedness. Closing of the
offering is expected to occur on February 16, 2005, subject to customary
closing conditions. Citigroup, Credit Suisse First Boston, Merrill Lynch & Co.
and Deutsche Bank Securities are acting as joint book-running managers for the
offering.
In addition to the shares being sold by the Company, an existing stockholder of
Huntsman will sell 4,545,455 shares of common stock in the offering. The
selling stockholder has granted the underwriters a 30-day option to purchase up
to an additional 9,034,091 shares of common stock to cover over-allotments, if
any, and the Company has granted the underwriters a 30-day option to purchase
up to an additional 750,000 shares of mandatory convertible preferred stock to
cover over-allotments, if any.
Huntsman Corporation is among the world's largest global manufacturers of
differentiated and commodity chemical products for a variety of industrial and
consumer applications.
This release shall not constitute an offer to sell or the solicitation of an
offer to buy, nor shall there be any sale of these securities, in any state or
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any such state or
jurisdiction. Offers of the securities may be made only by means of a
prospectus. Copies of the final prospectuses relating to these securities may
be obtained from: Citigroup, Brooklyn Army Terminal, 140 58th Street, Brooklyn,
NY 11220 (telephone 718-765-6732), Credit Suisse First Boston, Prospectus
Department, One Madison Avenue, Level 1B, New York, NY 10010 (telephone
212-325-8057), Merrill Lynch & Co., Prospectus Department, 4 World Financial
Center, New York, NY 10080 (telephone 212-449-1000) and Deutsche Bank
Securities, Prospectus Department, 1251 Avenue of the Americas, 25th Floor, New
York, NY 10020 (telephone 212-474-8372).
DATASOURCE: Huntsman Corporation
CONTACT: media, Don Olsen, +1-281-719-4175, or finance, Kimo Esplin or
John Heskett, +1-801-584-5700, all for Huntsman Corporation
Web site: http://www.huntsman.com/