Identification

Symbol
PRE
ISIN code
CH0032057447
Trading location
Paris
ICB
Reinsurance
Website address
http://www.paris-re.com
Issuer website
http://www.paris-re.com

Operation

IPO date
Thu 12/07/2007
IPO type

Global Placement and Open Price Offer

IPO price
19.35 euros
IPO type
Initial Public offering
Catégorie
IPO
Operation procedure

Characteristics of the Global Placement: - The Global Placement is directed mainly to institutional investors and comprises a placement in France and an international private placement in some countries, including the USA. - Number of shares: 10,444,066 shares representing 90% of the Offer (before exercise of the extension clause and the over-allotment option) - Bookrunners : Credit Suisse, Citi Characteristics of the Open Price Offer The OPO is directed mainly to retail investors, certain legal entities and UCITS (Fonds communs de placement). - Number of shares: 1,160,452 shares representing 10% of the Offer (before exercise of the extension clause and the option of the over-allotment option) If the demand in the OPO allows it, the final number of shares allocated in the OPO will at least be equal to 10% of the total number of shares offered (before the exercise of the extension clause and the option of the over-allotment option).

Operation description

Admission on Eurolist by Euronext:
- 81,666,950 existing shares representing the current equity of PARIS RE Holdings Limited (based in Switzerland),
- a maximum of 3,914,591 new shares obtained from a capital increase, as part of the introduction in the stock exchange.

A maximum number of 11,604,518 shares will be offered to the public by the way of a Global Placement and an Open-Price Offer - OPO (the "Offer"), comprising up to 3,914,591 new shares and 7,689,927 existing shares.

Extension clause: Depending on the demand, the selling shareholders, by agreement with the company and the underwriters, could decide to increase the number of shares by a maximum of 1,740,678 additional existing shares.

Over-allotment Option: The selling shareholders will agree to grant the underwriters an over-allotment option to acquire up to 1,740,678 additional existing shares.

Operation calendar

- Period of the Placement: from June 28, 2007 to July 11, 2007 (17:00) - Period of the OPO: from June 28, 2007 to July 11, 2007 (17:00) - First quotation: July 12, 2007 - Beginning of trading: July 13, 2007

Price range
19.35 euros - 22.00 euros
Broker to issue

CREDIT SUISSE
CITI
ABN AMRO ROTHSCHILD
BNP PARIBAS
GOLDMAN SACHS INTERNATIONAL
FOX-PITT KELTON