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The company, which owns the Bols brand, will be valued at €187-207 million after the IPO |
Lucas Bols Holding B.V. has revealed an opening price range of €13.50 to €18 per share for its planned IPO, announced earlier this month. The offer period begins today with listing on Euronext Amsterdam from 4 February.
The indicative price range values Lucas Bols, the owner of Bols liqueur, at a post IPO equity value of €187 million to €207 million.
The company is offering up to 9,437,390 ordinary shares (excluding exercise of the over-allotment option), consisting of up to 9,332,390 new shares to raise €125 million of primary gross proceeds. A secondary offering of up to 105,000 existing ordinary shares will be available, which are currently held by (senior) management since the 2006 buy-out of the business from Rémy Cointreau.
Up to 10% of the Offering is reserved for preferential allocation to retail investors in the Netherlands.
Lucas Bols CEO Huub van Doorne said: “We are pleased to announce the launch of our IPO today, another major step in the 440-year history of Lucas Bols. We have successfully completed all preparations and are ready to become a listed company. The level of interest we have seen in the investment community is very encouraging. We are excited to meet prospective investors and share with them our plans to further accelerate the growth of our brands and lead the development in the global cocktail market.”
The Bols business dates back to 1575 and today houses more than 20 brands, sold in over 110 countries. The company says it is the largest player in the genever segment worldwide as well as the leading player in liqueurs (outside the USA). Its global brands include Bols liqueurs and Bols genever, while key regional brands include Pisang Ambon and Bokma.
The company said it generated strong EBIT margin and cash generation, allowing for a target dividend of at least 50% of the company’s net profits.
