Celanese Corporation Prices Initial Public Offering of Series A Common Stock at $16.00 per Share and Prices an Offering of 4.25% Convertible Perpetual Preferred Stock
DALLAS--(BUSINESS WIRE)--Jan. 20, 2005--Celanese Corporation (NYSE: CE) announced today that its initial public offering of 50,000,000 shares of its Series A Common Stock has been priced at $16.00 per share. Celanese Corporation has also granted the underwriters a 30-day option to purchase up to 7,500,000 additional shares of its Series A Common Stock to cover over-allotments, if any.
In addition, Celanese Corporation announced today that it priced its offering of its 4.25% Convertible Perpetual Preferred Stock, liquidation preference $25.00 per share. Celanese Corporation increased the size of the offering of the 4.25% Convertible Perpetual Preferred Stock from 8,000,000 shares to 9,600,000 shares.
All the shares were sold by Celanese Corporation.
The underwriters for the common stock offering are led by Morgan Stanley, Lehman Brothers, Goldman, Sachs & Co., Banc of America Securities LLC and UBS Investment Bank as book-running managers, with Deutsche Bank Securities, Bear, Stearns & Co. Inc., Credit Suisse First Boston, Friedman Billings Ramsey and Stephens Inc. acting as co- managers. The managing underwriters for the preferred stock offering are Morgan Stanley, Deutsche Bank Securities, Goldman, Sachs & Co., Lehman Brothers and UBS Investment Bank.
A copy of the final prospectus relating to each of the offerings may be obtained by contacting: Morgan Stanley, Prospectus Department, 1585 Broadway, New York, New York 10036 or Lehman Brothers Inc., c/o ADP Financial Services, Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, New York 11717.
This press 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. Celanese holds worldwide leading positions in its key products and world-class process technology. The Celanese portfolio consists of four main businesses: Chemical Products, Acetate Products, Technical Polymers Ticona and Performance Products. Forward-looking statements (statements which are not historical facts) in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including those risks and uncertainties detailed in the Company's filings with the Securities and Exchange Commission, copies of which are available from the Company.
Celanese Corporation USA Vance Meyer, 972-443-4847
Europe Michael Kraft, +49 (0)69/30514072
Telefax: +49 (0)69/305 36787
Andrea Stine, 908-901-4504
Telefax : 908-901-4805
The Blackstone Group John Ford, 212-583-5559