Offer now open
On 11 November 2003, SAI Global Limited (“SAI Global”), the leading provider of management system certification in Australia, announced an initial public offering (“the Offer”) of up to $75 million.
SAI Global delivers an integrated range of standards related and business improvement products and services to Australian and overseas customers. These products and services are based on a collection of more than 6,500 Australian Standards® and various other business improvement methodologies, totalling more than 80,000 publications.
SAI Global is currently a wholly owned subsidiary of Standards Australia International Limited (“Standards Australia”), the peak non-government standards development body in Australia. The proceeds of the Offer will be used by SAI Global to acquire the commercial operations and trademarks of Standards Australia, and buy back 10 million shares from its parent organisation. Following completion of the Offer and the buy back, Standards Australia will hold 40 million shares, representing 40% of the issued capital of SAI Global.
SAI Global will comprise three complementary businesses:
1. Business Publishing – distributes technical and business standards and related products developed by Standards Australia and other organisations in hard and electronic copy;
2. Professional Services – provides standards and business improvement related training and consulting services in Australia, through its wholly owned subsidiary, Excel Partnership Inc., in the United States; and
3. Assurance Services – certifies that products and management systems conform with Australian Standards®, international Standards and other codes of practice, using the “5-tick” StandardsMarks. It also provides certification services in over 100 countries from its offices in Australia, the United States, New Zealand, India, Mexico and Indonesia.
Key details
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Number of shares offered: |
60 million |
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Retail Application Price: |
$1.25 per share1 |
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Bookbuild price range: |
$1.03-$1.25 |
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Retail Offer opens: |
19 November 20032 |
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Retail Offer closes: |
8 December 20032 |
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Trading on ASX on a deferred settlement basis:: |
17 December 20032 |
1 Retail applicants will pay the lower of the Retail Application Price and the Final Institutional Price (to be determined by a bookbuild on 9-10 December 2003). Retail applicants will receive a refund if the Final Retail Price is less than $1.25.
2 Timing is indicative only. Dates may change without notice, including the Offer closing date.
The following is an electronic reproduction of the SAI Global prospectus for an offer of 60 million shares (the Prospectus). The Prospectus is dated 11 November, which is the date it was lodged with ASIC.
The Prospectus does not constitute an offer in any place in which, or to any person to whom, it would not be lawful to make such an offer. The Offer is open to retail investors who are residents of Australia only. The shares have not and will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold within the United States. It is recommended that you consider the Prospectus in its entirety and obtain relevant and specific professional advice before making any investment decision in relation to the Offer.
Applications for shares in SAI Global must be made on the application form attached to the Prospectus. If you wish to obtain a free paper copy of the Prospectus, and you are a person residing in Australia, please contact the SAI Global Information Line on 1300 654 848.
By checking the box below, you confirm that you have read and understood the above statements and agree to act only in accordance with those statements.
This document last updated: 2003-11-19