Notice Regarding the Determination of the Issue Price for the New Share Offering and Provisional Terms for Book Building |
August 21, 2003-The company Board of Directors is pleased to announce that at the board meeting today it determined the issue price and other matters previously left undetermined after the board passed a resolution concerning offering a new issue of company shares at the meeting held on Aug. 8.
Please be advised that the issue price is different from the offering price to be determined during book building or the underwriting price, the amount received by the company from the underwriters.
| 1. |
Issue price
2,975 yen per share
However, if the underwriting price is lower than the issue price, the new share issue offering will be cancelled.
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| 2. |
Portion of the issue price that will not be transferred to capital
1,487 yen per share
If the underwriting price is higher than the issue price, the difference will not be transferred to capital.
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| 3. |
Provisional terms
3,500 yen to 4,000 yen per share
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Representative
Toshihiko Takahashi, President
(Code number: 3717)
NEC System Technologies, Ltd.
Inquiries
Hiroshi Minami, Senior Vice President
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[For reference]
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| 1. |
Number of shares to be issued and number to be sold
| (1) | Number of shares to be issued: 3,500,000 common shares |
| (2) | Number of shares to be sold:
The portion sold through underwriting by the underwriters: 3,500,000 common shares
The portion sold through over-allotment: maximum of 180,000 common shares
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| 2. |
Demand reporting period
August 25, 2003 (Monday) through August 29, 2003 (Friday)
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| 3. |
Price announcement date
September 1, 2003 (Monday)
(The share price for this issue (the offering price) and the selling price, which will not be lower than the issue price, are to be determined considering investor demand and other factors based on the provisional terms of the offering.)
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| 4. |
The period for subscription
September 3, 2003 (Wednesday) to September 8, 2003 (Monday)
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| 5. |
The date of remittance
September 11, 2003 (Thursday)
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| 6. |
The date for transfer of the shares
September 12, 2003 (Friday)
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| 7. |
Initial date in reckoning of dividend
April 1, 2003 (Tuesday)
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| 8. |
Basis for determining the provisional terms
The terms were decided upon after a comprehensive review of comparisons with publicly owned companies that are similar to the company in regard to business activities, earnings and financial position; the opinions of institutional investors known to be skilled in assessing share prices and demand forecasts; the current stock market trends; market response to recent IPOs; and price fluctuation risk between now and the listing date.
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<Notes>
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| a. | Sale through over-allotment as described above refers to an additional offering of our common shares by Daiwa Securities SMBC after considering investor demand. The number of shares to be sold through over-allotment indicates the upper limit and may decrease depending on demand. |
| b. | Common shares to be sold through over-allotment are the shares that Daiwa Securities SMBC will lease from NEC Corporation (henceforth "the lender") for sale through over-allotment. In this regard, Daiwa Securities SMBC is expected to be granted the right to buy out additional common share of ours (Green Shoe Option) of up to 180,000 shares from the lender. Daiwa Securities SMBC may purchase up to the same number of common shares as granted in the Green Shoe Option on the Tokyo Stock Exchange with the aim of returning the common shares leased from the lender (Syndicate Cover Transaction) between September 12, 2003 and September 17, 2003 (Syndicate Cover Period). Daiwa Securities SMBC is not planning to exercise the Green Shoe Option for the shares related to the syndicate cover transaction. During the syndicate cover period, Daiwa Securities SMBC, at its discretion, may or may not perform any syndicate cover transaction at all or terminate any transaction before the number of purchased shares reaches the upper limit. |
Caution
This press statement is intended as a general public announcement and is not intended as a solicitation to invest in our share. When investing, please consult the company prospectus, including corrections and addenda, and exercise your own judgment.
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