Micronas: capital increase oversubscribed - good start on the Neue Markt (PR9)

July 15, 1999 - Micronas Semiconductor Holding AG

Between 12 and 14 July, 500,000 new registered shares of Micronas Semiconductor Holding AG, Zurich, were very successfully placed as part of a capital increase program. The issue was heavily oversubscribed, meaning that the placement price could be fixed at close of trading at CHF 181/EUR 112.70 - a very small discount to the price paid on the Swiss Stock Exchange yesterday at 12.00 noon.

Following the announcement of the placement price, the shares rose significantly on extremely heavy trading on the Swiss Stock Exchange yesterday to close at CHF 95.50. The closing price was thus 7.5 percent higher than on the previous day. Around 65 percent of the new shares went to institutional customers, with the rest bought by private and retail clients. The shares, which were placed by a banking syndicate led by the Swiss private bank Bank J. Vontobel & Co AG, went mainly to customer in Germany, Switzerland and the UK.

The shares of the international semiconductor manufacturer Micronas were launched on Frankfurt's Neue Markt, the German exchange for growth stocks, as part of the capital increase.

Since this morning, Micronas shares have been traded on the Neue Markt in addition to the Swiss Stock Exchange. With an opening price of EUR 121 in Frankfurt and CHF 195.75 on the Swiss Stock Exchange - much higher than the issue price of EUR 112.70/CHF 181 set for the capital increase - the shares got off to a very successful start. The market's great demand for Micronas shares reflects investor confidence in the current development and future prospects of the Micronas Group.