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METabolic EXplorer Announces Further Details of Its Proposed IPO on Eurolist of Euronext, Paris


Not for distribution in the United States, Canada or Japan

Clermont-Ferrand, France, 27 March 2007 – METabolic EXplorer, an industrial biotechnology company focused on the bio-production of bulk chemicals “Green Chemistry”, announced today additional information regarding its intention to proceed with an Initial Public Offering (IPO) on Eurolist C Euronext, Paris. The Share Offering will consist of:

  • A Public Offer in France (Open Price Offering) and
  • A Global Placement mainly intended for institutional investors, including a private placement in France and an international private placement in certain countries, outside the United States, Japan and Canada.


    Share Offering at a glance:

  • 5,619,129 newly issued shares of METabolic EXplorer S.A., representing a 30.00% free float, will be offered
  • Extension Option for up to a maximum of 10% of the capital increase is in place
  • Existing shareholders will have preferred subscription rights for up to 7% of the share offering including the Extension Option
  • Over-allotment Option: up to a maximum of 15% of the capital increase has been granted to the Underwriters of the Offering
  • Indicative price range: €7.30 – 8.50 per share
  • Indicative Offer size: approximately €44 million (based on the mid-point of the indicative price range and before extension and over-allotment options)
  • Offer period: 27 March 2007 to 5 April 2007
  • Fortis has been appointed Lead Manager and Bookrunner, and CM-CIC Securities Co-Lead Manager.


    METabolic EXplorer’s mission is to transform the chemical value chain
    METabolic EXplorer focuses on the bio-production of bulk chemicals that are currently used in the manufacture of a broad range of products including fibres, plastics, paints, solvents and second generation biofuels. The company applies a unique biological approach, based on fermentation methods, for the one step production of the selected bulk chemical intermediate using renewable feedstocks such as corn, starch, sugar or hemicellulose. This approach provides an attractive alternative production route for chemicals that otherwise would be made from fossil resources such as oil.

    METabolic EXplorer’s approach is designed to meet some of the most challenging issues facing the chemical industry today which is highly dependent on fossil raw materials, thereby bringing sustainable solutions to the chemical value chain.

    The key advantages of this approach are:

  • Greater environmental benefits
  • Significantly lower production costs
  • Reduction in industrial hazards
  • Greater flexibility in locating manufacturing sites


    METabolic EXplorer’s portfolio products each target a market worth over $1 billion
    METabolic EXplorer has to-date developed a portfolio of five important bulk chemicals which have applications in, for example, fibres, plastics, paints, solvents, animal feeds and second generation biofuels.

    This development of the company’s products has been based on the following criteria:

  • The ability to achieve a minimum 30% reduction in the cost of production as compared to the current production methods
  • The products address large and growing bulk chemical markets, and
  • The ability to minimise risk linked to the cost of feedstocks by using a diversified range of renewable feedstocks for the production of each of its bulk chemical intermediates.


    Use of proceeds
    The company intends to use the net proceeds from the offering to:

  • Industrialise the production processes of its key three in-house portfolio products
  • Strengthen and extend its IP position by discovering and validating new bacteria strains which can produce other bulk chemicals economically
  • Further expand its in-house product portfolio of bulk chemicals
  • Potential co-investment with non-exclusive partners to manufacture the key bulk chemicals in its product portfolio


    Publisher Contact Information:

    METabolic EXplorer S.A.
    +33 (0) 4 7333 4300
    infofin@metabolic-explorer.com

    Company profile of METabolic EXplorer S.A.
    Past press releases of METabolic EXplorer S.A..

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