Val Saint-Lambert IPO priority subscription closes early

The subscription for the priority tranche of an equity offering in Val Saint-Lambert closed ahead of schedule according to the IPO lead manager for the Belgian crystal product maker on 6 December 2005…

The subscription for the priority tranche of an equity offering in Val Saint-Lambert closed ahead of schedule according to the IPO lead manager for the Belgian crystal product maker on 6 December 2005. The subscription for the non-priority tranche is still open, but could also close ahead of schedule. The initial subscription period for the two tranches was set for 5 to 23 December 2005. Small Caps Finance is lead managing the subscription. The priority offer accounts for 80% of the IPO, or 342,858 shares, while the non-priority offer is composed of 85,714 shares. The offer price is EUR 5.68 (USD 6.64) per share. The listing on the small-cap Vrije Markt/Marche Libre of Euronext Brussels Stock Exchange is set for 30 December 2005. Val Saint-Lambert IPO is expected to raise EUR 2.43 million (USD 2.8 million). After the stock exchange debut, Val Saint-Lambert owner, family-run holding Interagora, will own a 70% stake, while the remaining 30% will be in free float. Val Saint-Lambert expects sales of EUR 3.4 million (USD 3.97 million) for 2005 and EUR 6.5 million (USD 7.6 million) for 2006.