Zoetis™ Prices Initial Public Offering
January 31 2013 - 6:45PM
Business Wire
ZoetisTM, formerly the animal health business unit of Pfizer
Inc., today announced the pricing of its initial public offering of
86,100,000 shares of its Class A common stock at $26 per share. The
shares are expected to begin trading tomorrow, Feb. 1, on the
New York Stock Exchange under the symbol “ZTS.”
Zoetis will not receive any of the proceeds of the offering.
Following the completion of the initial public offering, Pfizer
will own 100% of the outstanding Class B common stock of Zoetis and
will retain an approximately 83 percent ownership of Zoetis.
The underwriters also have an option to purchase up to an
additional 12,915,000 shares of Class A common stock. Zoetis will
not receive any of the proceeds from any shares sold pursuant to
this option. If the underwriters exercise this option in full,
Pfizer is expected to retain an approximately 80 percent ownership
of Zoetis.
J.P. Morgan, BofA Merrill Lynch and Morgan Stanley served as
joint lead book-running managers for the offering. Barclays,
Citigroup, Credit Suisse, Deutsche Bank Securities, Goldman, Sachs
& Co., Guggenheim Securities and Jefferies served as
book-running managers for the offering. BNP PARIBAS, HSBC, Loop
Capital Markets, RBC Capital Markets, The Williams Capital Group,
L.P. and UBS Investment Bank served as senior co-managers for the
offering. Lebenthal Capital Markets, Piper Jaffray and Ramirez
& Co., Inc. served as co-managers for the offering.
The offering is being made only by means of a prospectus. A copy
of the final prospectus related to the offering will be filed with
the Securities and Exchange Commission, which may be obtained, when
available, from J.P. Morgan Securities LLC, Attention: Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717,
telephone: (866) 803-9204; BofA Merrill Lynch, Attention:
Prospectus Department, 222 Broadway, New York, NY 10038, email:
dg.prospectus_requests@baml.com; Morgan Stanley & Co. LLC,
Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New
York, NY 10014, email: prospectus@morganstanley.com, telephone:
(866) 718-1649.
A registration statement relating to these securities has been
filed with and declared effective by the Securities and Exchange
Commission. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any
sale of these securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any state or
jurisdiction.
About Zoetis
Zoetis (zō-EH-tis) is the leading animal health company,
dedicated to supporting its customers and their businesses.
Building on a 60-year history as the animal health business of
Pfizer, Zoetis discovers, develops, manufactures and markets
veterinary vaccines and medicines, with a focus on both farm and
companion animals. The company generated annual revenue of $4.2
billion in fiscal 2011. Zoetis has more than 9,500 employees and a
local presence in approximately 70 countries, including 29
manufacturing facilities in 11 countries. Its products serve
veterinarians, livestock producers and people who raise and care
for farm and companion animals in 120 countries.
DISCLOSURE NOTICE: This news
release contains forward-looking statements, which reflect Zoetis’
current views with respect to business plans or prospects, future
operating or financial performance, and other future events. These
statements are not guarantees of future performance.
Forward-looking statements are subject to risks and uncertainties.
If one or more of these risks or uncertainties materialize, or if
management's underlying assumptions prove to be incorrect, actual
results may differ materially from those contemplated by a
forward-looking statement. Forward-looking statements speak only as
of the date on which they are made. Zoetis expressly disclaims any
obligation to update or revise any forward-looking statement,
whether as a result of new information, future events or otherwise.
A further list and description of these risks, uncertainties and
other factors can be found in Zoetis’ Registration Statement on
Form S-1 (File No. 333-183254), as amended, filed with the
Securities and Exchange Commission. This filing and subsequent
filings are available online at www.sec.gov or on request from
Zoetis.
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