SCHOTT Pharma AG & Co. KGaA: SCHOTT Pharma shares to be offered within price range of EUR 24.50 to EUR 28.50 per share

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SCHOTT Pharma shares to be offered within price range
of EUR 24.50 to EUR 28.50 per share

• Price range implies a total market capitalization of around EUR 3.69 billion to EUR 4.29 billion
• Free float expected to amount to up to 23% of outstanding share capital including over-allotments
• Offer will consist of up to 34,641,362 shares in total from the holdings of SCHOTT AG including possible over-allotments
• Qatar Holding LLC committed to purchase shares as cornerstone investor, while SCHOTT AG will remain the majority shareholder
• Offer period to commence on September 19 and expected to end on September 27, 2023; first day of trading on Frankfurt Stock Exchange planned for September 28, 2023
• Offering and listing are subject to approval of prospectus by German Federal Financial Supervisory Authority (BaFin) and its publication

SCHOTT Pharma AG & Co. KGaA (“SCHOTT Pharma” or “Company”), a global market leader for drug containment solutions and delivery systems, is launching its initial public offering (IPO) today.¹ The offer will consist of up to 34,641,362 shares to be sold from the existing holdings of the Company’s current sole shareholder SCHOTT Glaswerke Beteiligungs- und Export GmbH (“Selling Shareholder”),
a wholly-owned subsidiary of SCHOTT AG, at a price range of EUR 24.50 to
EUR 28.50 per share. The offer implies an expected free float of up to 23%. Depending on the final issue price and number of shares placed, the total market capitalization of SCHOTT Pharma will be between around EUR 3.69 billion and
EUR 4.29 billion and the offer volume between around EUR 849 million and
EUR 987 million. “We have received very positive feedback on our outstanding business model, track record, and growth ambitions,” said Andreas Reisse, CEO of SCHOTT Pharma. “Now, we look forward to meeting with investors around the world in the coming days.”

As part of the IPO, the offer will comprise two components:

1. 30,122,924 existing ordinary bearer shares with no-par value from the holdings of the Selling Shareholder.
2. 4,518,438 existing ordinary bearer shares with no-par value from the holdings of the Selling Shareholder in connection with a possible over-allotment

SCHOTT Pharma’s shares will be publicly offered to retail and institutional investors in Germany, as well as institutional investors in certain jurisdictions outside of Germany via private placements.

Qatar Holding LLC (“QIA”) has undertaken, subject to certain termination rights, to purchase shares in the offer up to the aggregate maximum purchase price of EUR 200 million at the final offer price subject to a maximum resulting interest in the share capital of the Company of 4.99%. The number of shares which QIA undertakes to purchase is calculated based on the aggregate maximum purchase price divided by the offer price.

The offer period, during which purchase orders can be submitted, is expected to commence on September 19, 2023 and to end on September 27, 2023. Trading of SCHOTT Pharma shares on the Frankfurt Stock Exchange (Prime Standard) is expected to begin on September 28, 2023. The final offer price and allocation of the offered shares will be determined at the end of the offer period.

The offer is subject to approval of the prospectus by the German Federal Financial Supervisory Authority (BaFin) and its publication, which is targeted for September 18, 2023. The securities prospectus will then be available on SCHOTT Pharma’s Investor Relations website: https://www.schott-pharma.com/investor-relations/

All proceeds from the sale of shares in the IPO will be received by SCHOTT AG, who will remain the majority shareholder. “Today is an important strategic milestone as we get one step closer to SCHOTT Pharma becoming a publicly listed company. The IPO will enable us to accelerate the growth of SCHOTT AG and SCHOTT Pharma and support the Group’s green transition,” says Dr. Frank Heinricht, CEO of SCHOTT AG.

The Joint Global Coordinators for the IPO are BNP Paribas, BofA Securities, and Deutsche Bank. Jefferies and Citigroup are acting as Joint Bookrunners and Commerzbank and LBBW have been appointed as Co-Lead Managers.

¹ Subject to approval of the securities prospectus for the SCHOTT Pharma shares by BaFin.

About SCHOTT Pharma

SCHOTT Pharma designs solutions grounded in science to ensure that medications are safe and easy to use for people around the world – because human health matters. The portfolio comprises drug containment solutions and delivery systems for injectable drugs ranging from prefillable glass and polymer syringes to cartridges, vials, and ampoules. Every day, a team of around 4,700 people from over 65 nations works at SCHOTT Pharma to contribute to global healthcare. The company is represented in all main pharmaceutical hubs with 16 manufacturing sites in Europe, North and South America, and Asia. With over 1,000 patents and technologies developed in-house, a state-of-the-art R&D center in Switzerland, the company is focused on developing innovations for the future. SCHOTT Pharma AG & Co. KGaA, headquartered in Mainz, Germany, is part of SCHOTT AG that is fully owned by the Carl Zeiss Foundation. In light of this spirit, SCHOTT Pharma is committed to sustainable development for society and the environment and has the strategic goal of becoming climate-neutral by 2030. Currently, SCHOTT Pharma has over 1,800 customers including the top 30 leading pharma manufacturers for injectable drugs and generated sales of EUR 821 million in the fiscal year 2022.

About SCHOTT

Pioneering. Responsibly. Together. These attributes characterize SCHOTT as a manufacturer of high-tech materials based on specialty glass. Founder Otto Schott is considered its inventor and became the pioneer of an entire industry. Always opening up new markets and applications with a pioneering spirit and passion – this is what has driven the #glasslovers at SCHOTT for almost 140 years. Represented in over 30 countries, the company is a highly skilled partner for high-tech industries: Healthcare, Home Appliances & Living, Consumer Electronics, Semiconductors & Datacom, Optics, Industry & Energy, Automotive, Astronomy & Aerospace. In the fiscal year 2022, its 17,200 employees generated sales of 2.8 billion euros. SCHOTT AG is fully owned by the Carl Zeiss Foundation, one of the oldest foundations in Germany. It uses the Group's dividends to promote science. As a foundation company, SCHOTT has anchored responsibility for employees, society and the environment deeply in its DNA. The goal is to become a climate-neutral company by 2030.

Press contact:

Christina Rettig
Head of SCHOTT Corporate Communications
Tel.: +49 151/54374595
E-Mail: christina.rettig@schott.com  

Jasko Terzic
Head of Investor Relations

Tel.: +49 151/12076366
E-Mail: jasko.terzic@schott.com

Simon Steiner
FGS Global
Tel.: +49 172/6411298
E-Mail: simon.steiner@fgsglobal.com

Christopher Raad
FGS Global
Tel.: +49 171/8657549
E-Mail: christopher.raad@fgsglobal.com

Important Notice

This announcement is an advertisement for the purposes of the prospectus regulation EU 2017/1129 ("Prospectus Regulation"). It does not constitute an offer to purchase any shares in SCHOTT Pharma AG & Co. KGaA ("SCHOTT Pharma") and does not replace the securities prospectus which will be available free of charge, together with the relevant translation of the summary, at www.schott-pharma.com. The approval of the securities prospectus by the German Federal Financial Supervisory Authority ("BaFin") should not be understood as an endorsement of the investment in any shares in SCHOTT Pharma. It is recommended that investors read the securities prospectus before making an investment decision in order to fully understand the potential risks and rewards associated with the decision to invest in the shares. Investment in shares entails numerous risks, including a total loss of the initial investment, which will be described in chapter 1 "Risk Factors" of the securities prospectus.

The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any jurisdiction.

This announcement is not for distribution, directly or indirectly, in or into the United States (including its territories and possessions, any State of the United States and the District of Columbia), Australia, Canada, Japan or South Africa or any other jurisdiction in which the distribution or announcement would be unlawful. This announcement does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States, Australia, Canada, Japan or South Africa or any other jurisdictions where to do so would constitute a violation of the laws of such jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “Securities Act”).

The securities may be offered in the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act, and outside the United States in offshore transactions in reliance on Regulation S under the Securities Act. There currently is, and there will be no public offer of securities in the United States. The securities may not be offered or sold in Australia, Canada, Japan or South Africa, subject to certain exceptions.

In any EEA Member State, other than Germany, this communication is only addressed to and is only directed at “qualified investors” in that Member State within the meaning of Article 2(e) of the Prospectus Regulation.

In the United Kingdom, this publication is being distributed only to and is directed only at persons who are “qualified investors” within the meaning of Article 2 of the Prospectus Regulation as it forms part of retained EU law in the United Kingdom as defined in the European Union (Withdrawal) Act 2018 (as amended) and who (i) have professional experience in matters relating to investments falling within the definition of “investment professionals” in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”), or (ii) are persons who are high net worth bodies corporate, unincorporated associations and partnerships and the trustees of high-value trusts, as described in Article 49(2)(a) to (d) of the Order or (iii) are persons to whom this communication may otherwise be lawfully communicated (all such persons together being referred to as “Relevant Persons”).

The securities are available only to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be available only to or will be engaged in only with, Relevant Persons. Any person who is not a Relevant Person should not act or rely on this document or any of its contents.

Forward-looking Statements

This announcement contains “forward-looking statements”.

Forward-looking statements are sometimes, but not always, identified by their use of a date in the future or such words as “will”, “anticipates”, “aims”, “could”, “may”, “should”, “expects”, “believes”, “intends”, “plans”, “prepares” or “targets” (including in their negative form or other variations). By their nature, forward-looking statements are inherently predictive, speculative and involve risk and uncertainty because they relate to events and depend on circumstances that may or may not occur in the future. There are a number of factors that could cause actual results, performance and developments to differ materially from those expressed or implied by these forward-looking statements. All subsequent written or oral forward-looking statements attributable to SCHOTT AG or its respective affiliates, including SCHOTT Pharma or any member of SCHOTT Pharma, or any persons acting on their behalf are expressly qualified in their entirety by the factors referred to above. No assurances can be given that the forward-looking statements in this document will be realised. Any forward-looking statements are made of the date of this announcement.

Subject to compliance with applicable law and regulations, neither SCHOTT AG, nor SCHOTT Pharma, nor BNP PARIBAS, BofA Securities Europe SA, Deutsche Bank Aktiengesellschaft, Citigroup Global Markets Europe AG, Jefferies GmbH, COMMERZBANK Aktiengesellschaft, Landesbank Baden-Württemberg (together, the “Underwriters”) nor their respective affiliates intend to update, review, revise or conform any forward-looking statement contained in this announcement to actual events or developments whether as a result of new information, future developments or otherwise, and do not undertake any obligation to do so.

This announcement contains certain financial measures that are not recognized under International Financial Reporting Standards (“IFRS”). These non-IFRS measures are presented because SCHOTT Pharma believes that they and similar measures are widely used in the markets in which it operates as a means of evaluating a company’s operating performance and financing structure. They may not be comparable to other similarly titled measures of other companies and are not measurements under IFRS or other generally accepted accounting principles.

This announcement does not purport to contain all information required to evaluate SCHOTT Pharma and/or its financial position. Financial information (including percentages) has been rounded according to established commercial standards. Certain market positioning data about SCHOTT Pharma included in this announcement is sourced from third-party sources. Third-party industry publications, studies and surveys generally state that the data contained therein have been obtained from sources believed to be reliable, but that there is no guarantee of the fairness, quality, accuracy, relevance, completeness or sufficiency of such data. Such research and estimates, and their underlying methodology and assumptions, have not been verified by any independent source for accuracy or completeness and are subject to change without notice. Accordingly, SCHOTT AG and SCHOTT Pharma expressly disclaim any responsibility for, or liability in respect of, such information and undue reliance should not be placed on such data.

The Underwriters are acting exclusively for SCHOTT Pharma and the Selling Shareholder and no one else in connection with the planned offering of the shares of SCHOTT Pharma (the “Offering”). They will not regard any other person as their respective clients in relation to the Offering and will not be responsible to anyone other than SCHOTT Pharma and the Selling Shareholder for providing the protections afforded to its clients, nor for providing advice in relation to the Offering, the contents of this announcement or any transaction, arrangement or other matter referred to herein.

In connection with the Offering, the Underwriters and their respective affiliates may take up a portion of the shares offered in the Offering as a principal position and in that capacity may retain, purchase, sell, offer to sell for their own accounts such shares and other securities of SCHOTT Pharma or related investments in connection with the Offering or otherwise. Accordingly, references in the securities prospectus, once published, to the shares being offered, acquired, placed or otherwise dealt in should be read as including any issue or offer to, or acquisition, placing or dealing by, the Underwriters and their respective affiliates acting in such capacity.

In addition, the Underwriters and their respective affiliates may enter into financing arrangements (including swaps or contracts for differences) with investors in connection with which the Underwriters and their respective affiliates may from time to time acquire, hold or dispose of shares of SCHOTT Pharma. The Underwriters do not intend to disclose the extent of any such investment or transactions, other than in accordance with any legal or regulatory obligations to do so.

None of the Underwriters nor any of their respective affiliates nor any of the Banks' or such affiliates' directors, officers, employees, advisers or agents accepts any responsibility or liability whatsoever for or makes any representation or warranty, express or implied, as to the truth, accuracy or completeness of the information in this release (or whether any information has been omitted from the release) or any other information relating to SCHOTT Pharma, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available, or for any loss howsoever arising from any use of this release or its contents or otherwise arising in connection therewith.

The information contained in this release is for background purposes only and does not purport to be full or complete. No reliance may be placed by any person for any purpose on the information contained in this release or its accuracy, fairness or completeness.

The date of the admission to trading of shares of SCHOTT Pharma on the regulated market segment (regulierter Markt) of the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse) with simultaneous admission to the sub-segment of the regulated market with additional post-admission obligations (Prime Standard) of the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse) (together, the "Admission") may be influenced by things such as market conditions. There is no guarantee that Admission will occur and no financial decision should be based on the intentions of SCHOTT Pharma in relation to Admission at this stage. Acquiring investments to which this release relates may expose an investor to a significant risk of losing all of the amount invested. Persons considering making such investments should consult an authorized person specializing in advising on such investments. This release does not constitute a recommendation concerning the Offering. The value of shares can decrease as well as increase. Potential investors should consult a professional advisor as to the suitability of the Offering for the person concerned.