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Case Studies

IPO - 3i Infrastructure plc - looking to raise between 70 million and 130 million GBP

Imprima recently produced a 168 page document for the IPO for 3i infrastructure, a world leader in private equity and venture capital. Citigroup were lead advisors and Slaughter and May were the lawyers involved. Distribution was completely managed by Imprima and we delivered 9,300 copies across the UK, Europe, the US and the Middle East. This deal was managed under a very tight timeline with compressed production schedules, split printing and advance copies and deliveries.

Austria Airlines Rights Offering

Imprima recently produced the Offering Circular for a capital increase of Austrian Airlines Österreichische Luftverkehrs-Aktiengesellschaft.

Our project management team worked very closely across our Frankfurt & London sites with the working group, including Shearman & Sterling, Merrill Lynch International and Bank Austria Creditanstalt. Our onsite typesetters and local teams kept very closely to the requirements of the working group ensuring a quick and accurate turnaround of all alterations. Following the in house drafting sessions, sign off and commencement of printing, we still received further changes to the document. Our flexibility enabled us to call back couriers, hold the printing press, remake printing plates and print and rebind the prospectuses. 2nd sign off was at 10.30 pm and we still managed to deliver advanced copies to Vienna for 8am the next day.

IPO - Connaught plc - £237 million Introduction to the Official List
  • Produced for Altium
  • Move from AIM to Full listing
  • In addition to producing their IPO we were also awarded the production of their 2006 Annual Report & Accounts
IPO - Trio Finance Limited $100 million Listing in London
  • Produced for Citigroup as Sole Global Co-ordinator and Bookrunner
  • KPMG as Sponsor
  • We also created their Corporate identity logo and designed the cover for the prospectus
  • Corporate identity and cover design produced and approved within 48 hours of briefing.
OctoPlus IPO

Imprima handled the financial documentation for OctoPlus, a product-orientated biopharmaceutical company, for its listing on Euronext Amsterdam. The prospectus consisting of 210 pages was printed and had a circulation of 4,000 copies. Distribution was completely managed by Imprima. The IPO was launched on September 15, 2006.

In addition to the production of the prospectus, Imprima also coordinated the financial advertisements in the Dutch (financial) newspapers. The advisory banks were Fortis, Cowen and company, and Kempen & Co.

SNS REAAL EUR 1.3 billion IPO – Holland's largest ever retail IPO

SNS Reaal and their team of advisors chose Imprima to produce and manage the financial documentation for its IPO largely due to Imprima's unrivalled experienced in the Dutch market. Imprima coordinated, typeset, printed and distributed the 394 page document and distributed 15.000 copies. The IPO was launched on the 5th May 2006 and became Holland's largest ever retail IPO.

Imprima also managed and produced an 8 page full colour brochure which had a circulation of 95.000 copies. The advisory banks were ABN AMRO, Rabo Securities and Lehman.

Air Berlin EUR 450 million IPO - Morgan Stanley & Commerzbank
As Europe's leading International Financial Printer, the Imprima Group was the perfect partner to coordinate and manage the Offering Prospectus for the Air Berlin IPO in Q2 2006. As a plc regulated in the UK and listing in Frankfurt, Imprima mirrored the requirements of Air Berlin's transaction group based in the UK and Germany by producing and offering typesetting, project management, conference facilities & printing simultaneously in both London and Frankfurt. We were able to cater for all needs by having dedicated teams working with Financial Advisors, Morgan Stanley & Commerzbank and Legal Advisors, Freshfields and Shearman & Sterling in both locations. Imprima also printed and managed the US Offering from our New York office.

A total of over 20,000 documents were printed and distributed from multiple locations in order to ensure a cost effective and timely arrival of all documents at investor locations. Documents included Pinks, Reds & Blacks of US, International and German versions, followed up by supplemental prospectuses. This involved 24/7 project management and a seamless work-flow in partnership with the whole transaction group.

Friends Provident – Vote mailing and prospectus mailing – Merrill Lynch

Imprima typeset numerous documents ranging from a 96 page circular, to a 32 page Q&A document, to letters, Vote and Share Allocation forms. Quantities involved of some documents were 2.7 million for each mailing. Some statistics include:

  • Over 1,700 tonnes of paper
  • A total of 655 printing hours and 509 finishing hours
  • Over 8,2 million records mailsorted across the various mailings and data tests
  • Over 45 different mailing cells for each mailing stage
  • 5.2 million envelopes (various sizes from DL, C5 to C4)
William Hill PLC – global IPO – largest UK IPO of 2002 - Citigroup

The documentation Imprima produced included:

  • 150,000 Share Offer Brochures in full-colour;
  • 13,000 Price-Range Prospectuses; and
  • 440,000 Mini-Prospectuses.

Imprima typeset and printed the main prospectus and the mini-prospectuses under extremely tight deadlines. Personalised letters and application forms were sent to 10,000 employees.

CeGeReal - IPO onto Euronext

The Imprima Paris office was appointed to handle the documents for the listing of Cegereal a specialised real estate company, onto the Eurolist of Euronext.

The Document de Base and Note d'Opération (both in French) and an International Prospectus were produced simultaneously under stringent deadlines.

Documents for the roadshow in Paris were finalised in the early hours of the morning, printed in Paris during the night and delivered by 07.00. One key banker running the operation commented on how he was "....impressed by the rapidity of your printing and delivery and we are totally satisfied with your professionalism."

PGNiG – International Institutional Investor Offering - HSBC

Produced for HSBC Investment Bank, largest Central + Eastern European IPO produced in 2005.
835 page Offering Circular; intensive in-house drafting at our London conference rooms with over 1000 pages or urgent corrections, followed by printing and distribution of 700 OCs by dedicated couriers to international addressees worldwide.

BorsodChem Rt – Global Offering - 2004
  • This was the largest Central & Eastern European deal of 2004, and largest ever non-Privatisation out of Hungary
  • 210 pages of the Offering Circular were typeset with intensive in-house drafting in our London conference rooms culminating in over 800 pages being edited within a twelve hour period. Preliminary prospectuses were delivered to 2,500 addresses and roadshows worldwide.
Aegon N.V. - global offering "Largest European Deal of the year so far (2002) (€3.85bn)" - Dealogic

Typesetting and printing of various documentation for Europe's largest equity issue of 2002.
The documentation consisted of a preliminary and final prospectus including a Regulation S prospectus and a Canadian Wrap. Part of the documentation including exhibits was EDGARized and filed with the SEC through our New York office. Documentation was simultaneously printed at our Amsterdam, London and New York offices.

Thielert AG IPO Cazenove and DrKW

On behalf of the Working Group, we were required to typeset dual language documentation in both Frankfurt and London and print in these locations as well as New York. Time pressure was extreme and involved weekends. We also managed a successful in-house drafting session and achieved timely worldwide mailings to thousands of addresses worldwide.

Deutsche Telekom – T-Online Offer Document, DrkW

Under the German Takeover law, we typeset and printed a total of 155,000 German and English Offer Documents in Frankfurt and New York. Imprima also coordinated all deliveries and individual mailings to German and US Investors. We were also responsible for establishing Fax and Telephone Hotlines and the publishing of adverts in the US and Germany.

Continental – Phoenix AG

This transaction involved project management in our Frankfurt, London, Amsterdam and New York centres. Imprima was responsible for the typesetting and printing of the prospectus and all publications of the WpÜg advertisments both in the press in Germany and in The Wall Street Journal. The delivery of the offer document was coordinated via an 0800 hotline freephone in both Germany and US.

Lloyd Fonds IPO DZ Bank

Our flexibility and multilingual capabilities were major assets in helping to contribute to a successful IPO. Additional documentation was required at very short notice. We designed artwork for the prospectus, adding value further in the execution process.

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