TomTom IPO Priced at €17.50 per share
The shares will be listed on Eurolist by Euronext Amsterdam under the symbol “TOM2”. Trading in the shares is expected to commence on 27 May 2005. The settlement date is expected to occur on or about 1 June 2005.
Harold Goddijn, the CEO of TomTom, commented: “We are delighted with the success of the IPO. Through the IPO we have acquired a strong financial basis to further grow our business. From our leading position in the integrated personal navigation device market in Europe, we aim to grow by expanding our product portfolio, continuing to innovate and building the TomTom brand.”
TomTom raised approximately €125.0 million of gross proceeds from the IPO. It intends to use the net proceeds primarily for general corporate purposes, including research and development into new products and technologies, international expansion and for working capital. In addition, TomTom may use a portion of the net proceeds to acquire or invest in businesses, products, technologies or innovations which complement its business and support its growth strategy.
Goldman Sachs International and Lehman Brothers are acting as joint global coordinators and joint bookrunners in connection with the IPO. Fortis Bank, Kempen & Co and Rabo Securities are acting as co-lead managers