The story of the IPO (part 3)

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Fred Bos, Senior Managing Director at ABN AMRO, is responsible for the process regarding ABN AMRO’s IPO. In this blog, he explains how the listing on the stock exchange works and how he is experiencing everything. Read here about the final weeks before the listing.

These past few weeks we experienced the final milestones in the run-up to the bank’s listing. The prospectus was published on 10 November. What a special moment it was when I first held this more than 700-page document in my hands. It contains all relevant information about the bank that investors need to make a well-considered decision. By 18 November the prospectus, which is published on our website, had been downloaded more than 12,000 times. A lot of people have read the story of ABN AMRO – and I have told that story many times during the presentations I’ve held for clients, colleagues and others in the past few weeks. This is one of the great things about my job.

Road show

Right after the prospectus was published, the Managing Board split up into two teams and visited institutional investors to inform them about the bank. They were well prepared. We were in touch every day, so I could hear how things were going. There was a lot of media attention. I really enjoyed watching the evening news every day, where investment specialists were enthusiastic about the depositary receipts for shares.

Paris trip cancelled

On Friday evening we heard the news about the horrific attacks in Paris. How awful for the people involved. Our Managing Board had scheduled a few appointments in Paris on Monday morning, but we quickly agreed to cancel the trip. Not so much for security reasons, but mainly because we did not feel it was appropriate to promote the depositary receipts for shares at that time. Paris had other things on its mind.

Introduction price and allocation

The subscription period for retail investors closed on Wednesday 18 November at 5.30 pm CET and for institutional investors on Thursday 19 November at 2 pm CET. The price and allocation were announced in a pricing statement as part of a press release on Friday 20 November at 06.02 am (CET).

The listing

On Friday 20 November my colleagues and I, together with other people involved in the IPO, went to Euronext Amsterdam. It is customary for a representative from the company being listed to open the trading day. Gerrit Zalm, our Chairman of the Managing Board, had the honour of doing so. He struck the gong at 9 o’clock sharp (CET). I was one of the people standing on the stage. I felt a mixture of modesty and pride, on behalf of all the employees who have worked so hard on the IPO – and on behalf of all the employees who are always there to serve our clients. I am also grateful to our clients. We have come this far thanks to their trust in us. This is a great conclusion to two special years of preparing for ABN AMRO’s listing on the stock exchange.

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This document and the information contained herein are not for distribution in or into the United States of America (including its territories and possessions, any state of the United States of America and the District of Columbia) (the “United States”), Canada, Australia or Japan.  This document does not constitute, or form part of, an offer to sell, or a solicitation of an offer to purchase, any securities (the “Shares”) of ABN AMRO Group N.V. (the “Company”) in the United States.  The Shares of the Company have not been and will not be registered under the U.S. Securities Act of 1933 (the “Securities Act”) and may not be offered or sold within the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Any sale in the United States of the securities mentioned in this communication will be made solely to “qualified institutional buyers” as defined in Rule 144A under the Securities Act. 

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This document does not constitute a prospectus within the meaning of the Dutch Financial Markets Supervision Act (Wet op het financieel toezicht) and does not constitute an offer to acquire securities. Any offer to acquire Shares will be made, and any investor should make his investment, solely on the basis of information that will be contained in the prospectus to be made generally available in the Netherlands in connection with such offering. When made generally available, copies of the prospectus may be obtained at no cost from the Company or through the website of the Company.
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