My watch list  

Symrise successfully completes capital increase


Within a very short time Symrise AG successfully completed its announced capital increase based on authorized capital. In an accelerated bookbuilding procedure, the company placed 5,614,036 new shares with institutional investors at an issue price of € 71.25 per share. The gross proceeds of € 400 million are earmarked for the partial funding of the planned acquisition of ADF/IDF, a supplier of natural ingredients. The acquisition was announced at the end of January.

"We are delighted with the positive response to our capital increase. We regard the strong demand from the capital market as proof of the attractiveness of the Symrise share. For us, it is a clear sign of confidence in our proven strategy and at the same time a further confirmation of the strategic logic behind the planned acquisition of ADF/IDF. With this capital increase, we have quickly succeeded in putting the first financial cornerstone in place for the acquisition," said Olaf Klinger, CFO of Symrise AG.

The capital increase based on authorized capital, excluding shareholders’ subscription rights, was carried out on the basis of the authorization granted to the Executive Board by the Annual General Meeting on 12 May 2015. It is expected to be entered in the Commercial Register on 11 February 2019. As a result of the capital increase, the share capital of Symrise AG will be increased from € 129,812,574 to € 135.426.610. The new shares are entitled to dividends as of the year 2018. On 11 February 2019, the new shares are expected to be admitted to trading without a prospectus, and on 12 February 2019, are expected to be included in the existing quotation in the subsegment of the regulated market segment with additional post-admission obligations (Prime Standard) of the Frankfurt Stock Exchange.

Pending the entry of the completed capital increase in the Commercial Register, the capital increase will generate gross proceeds of around € 400 million for Symrise. The net proceeds will be used for the partial refinancing of the bridge facility in connection with the ADF/IDF acquisition, as announced on 31 January 2019. Through the planned acquisition of ADF/IDF, headquartered in Springfield, MO, Symrise plans to significantly expand the Nutrition segment and its presence in North America. The planned acquisition will be financed, as announced, with a combination of debt and equity.

BNP Paribas and UniCredit Bank AG acted as Joint Global Coordinators and Joint Bookrunners on the capital increase. Symrise had been advised by Clifford Chance Deutschland LLP, BNP Paribas and UniCredit Bank AG had been advised by White & Case.LLP. 

Facts, background information, dossiers
  • capital increases
  • refinancing
  • investors
More about Symrise
  • News

    Symrise: Strong organic growth of 9.0 % in the first half of 2018

    Following a dynamic start to the year, Symrise AG accelerated its organic growth course in the second quarter. All segments and regions contributed to this positive development. Group sales rose significantly by 9.0 % in the first half of 2018. Taking into account portfolio and exchange rat ... more

    Symrise expands presence in British beverage market through acquisition of Cobell Limited

    Cobell as number one supplier for juices in Great Britain ideally complements Symrise’s activities Symrise to increase customer proximity in the British beverage market segment Cobell and Symrise to become the leading single source for beverage ingredients and formulations Symri ... more

    Symrise with a successful start in 2017

    Symrise AG started successfully into the fiscal year 2017. The Group seamlessly continued its strong performance from the previous year and again significantly increased sales and earnings in the first three months. Contributing to this development was strong demand in all segments. In the ... more

  • Companies

    Symrise AG

    Symrise is a global supplier of fragrances, flavorings, cosmetic active ingredients and raw materials as well as functional ingredients. With a market share of 11 % (2013), Symrise is the world’s fourth largest supplier in the F&F market. The approximately 30,000 products are primarily pro ... more

Your browser is not current. Microsoft Internet Explorer 6.0 does not support some functions on Chemie.DE