© 2008 Cascal NV
10 January 2008Cascal Announces the Filing of a Registration Statement for the Initial Public Offering of its Common Shares
London - January 10, 2008 - Cascal B.V. today announced that it has filed a Registration Statement on Form F-1 with the United States Securities and Exchange Commission in connection with the initial public offering of its common shares. The securities to be offered in the proposed IPO will include shares to be issued and sold by Cascal following its conversion to Cascal N.V., as well as shares to be sold by a subsidiary of Biwater Plc, its sole shareholder. The common shares are expected to trade on the New York Stock Exchange under the symbol "HOO".
Cascal provides water and wastewater services to its customers in seven countries: the United Kingdom, South Africa, Indonesia, China, Chile, Panama and The Philippines. Cascal's customers are predominantly homes and businesses representing a total population of approximately three million.
Cascal intends to use the net proceeds it receives from the offering to repay debt, to fund the acquisition and/or development of new projects, and for general working capital purposes.
A total of 16,705,314 common shares are being offered. Of these shares, 7,706,213 would be issued by Cascal and 8,999,101 would be sold by the selling shareholder. The estimated initial public offering price is between $17 and $19 per common share.
JP Morgan and Credit Suisse are bookrunners and Janney Montgomery Scott LLC and HSBC are co-managers for the offering. Biwater will also grant the underwriters an option to purchase additional shares at the initial public offering price. The offering will be made only by means of a prospectus.
When available, a copy of the preliminary prospectus relating to this offering may be obtained from:
J. P. Morgan Securities Inc.
National Statement Processing
Prospectus Library
4 Chase Metrotech Center
CS Level, NY 11245
Tel: (718) 242-8002Credit Suisse Securities (USA) LLC
Prospectus Department
One Madison Avenue
New York, NY 10010
Tel: (800) 221-1037 BrooklynThe roadshow is available on the RetailRoadshow web site.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
This press release may contain forward-looking statements that involve risks and uncertainties. In most cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of such terms or similar terminology. Such forward-looking statements are not guarantees of future performance and involve significant assumptions, risks and uncertainties, and actual results may differ materially from those in the forward-looking statements.
Contact Information
Cascal:
David Sayers
Chief Commercial Officer
(+44) 1306 746080
E-mail: enquiries@cascal.co.uk