Straumann Group decides not to pursue share placement
Basel, 17 August 2017 – The Straumann Group has decided not to pursue the intended accelerated bookbuild offering to place treasury shares that was announced after the stock exchange closed earlier today.
The company feels that a discounted price above 2% for the proposed transaction does not reflect the inherent value of its underlying and newly-acquired businesses. Nor does it reflect the very positive sentiment shown by other investors in response to the Group’s strong H1 results and robust growth strategy published today. The Group is therefore considering other options.
The Straumann Group (SIX: STMN) is a global leader in tooth replacement and orthodontic solutions that restore smiles and confidence. It unites global and international brands that stand for excellence, innovation and quality in replacement, corrective and digital dentistry, including Straumann, Instradent, Neodent, Medentika, etkon, ClearCorrect, Dental Wings, and other fully/partly owned companies and partners.
In collaboration with leading clinics, institutes and universities, the Group researches, develops, manufactures and supplies dental implants, instruments, CADCAM prosthetics, biomaterials and digital solutions for use in tooth replacement and restoration or to prevent tooth loss.
Headquartered in Basel, Switzerland, the Group currently employs approx. 4200 people (excl. Dental Wings and ClearCorrect) worldwide and its products, solutions and services are available in more than 100 countries through a broad network of distribution subsidiaries and partners.