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Arctic Paper

Kostrzyn, Poland, 16 October 2009 -- Arctic Paper S.A., the second-largest European producer of bulky book paper in terms of production volume and one of Europe’s leading producers of fine graphic paper, has allocated all of its offered shares. Investors were allocated a total of 10,850,000 shares. Demand declared in the book building process by the Institutional Investors was two times higher than the number of shares offered to the institutions. Subscription for Individual Investors was 5.4 times higher then the number of offered shares. High demand resulted in reduction of subscriptions for Individual Investors by 84.,4%. The company’s public offering, comprising newly issued shares and existing shares, achieved a value of PLN 162.8 million, and the company raised gross proceeds from the new issue of PLN 121.5 million. The stock market debut of Arctic Paper S.A. is scheduled for the second half of October 2009.

The final number of shares offered in the public offering was 10,850,000 shares, including:

  • 8,100,000 newly issued series C shares (new shares).
  • 2,750,000 existing series B shares, offered by Arctic Paper AB (sale shares).
  • 15% of all the offered shares, i.e., 1,627,500 shares, were allocated to individual investors.
  • 9,222,500 shares were allocated to institutional investors.

As a result of the public offering, the proportion of the total shares of Arctic Paper S.A. held by new shareholders will be 20.7%.

“We are pleased with the interest in our company shown by both retail investors and institutions, which is reflected in the results of our public offering,” said Michał Jarczyński, CEO and president of the management board of Arctic Paper S.A. “We are confident that the funds raised from the issue of shares will enable us to strengthen our market position, thanks to which the company’s new shareholders will be able to participate in its steady growth.”

Arctic Paper S.A. is the second-largest European producer of bulky book paper in terms of production volume, and one of Europe’s leading producers of fine graphic paper. The Group produces many types of uncoated wood-free paper and uncoated wood-containing paper for printers and end users from the book and magazine publishing and advertising sectors. The Group has three paper mills, in Kostrzyn, Poland; Munkedal, Sweden; and Mochenwangen, Germany. The total production capacity of the three paper mills in the Group is 540,000 metric tons of paper per year. The Arctic Paper Group employs a total of nearly 1100 people. The headquarters of the international Group are in Kostrzyn, Poland. The sole shareholder of Arctic Paper S.A. is the Swedish company Arctic Paper AB.


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