HIK Hikma Pharmaceuticals Plc

RNS Number:4241T
Hikma Pharmaceuticals Plc
01 November 2005



THIS DOCUMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE
UNITED STATES, CANADA, AUSTRALIA OR JAPAN

                                                                 1 November 2005


                           Hikma Pharmaceuticals plc

          Announcement of Offer Price of 290 pence per Ordinary Share

Hikma Pharmaceuticals plc ("Hikma" or the "Company"), a multinational
pharmaceutical group focused on developing, manufacturing and marketing a broad
range of both branded and non-branded generic and in-licensed pharmaceutical
products, today announces the successful pricing of its initial public offering
of Ordinary Shares (the "Global Offer") at 290 pence per Ordinary Share (the
"Offer Price").


Highlights of the Offer


  * The Global Offer comprises an aggregate of 51.3 million Ordinary Shares
    (assuming no exercise of the Over-allotment Option), of which approximately
    24.1 million Ordinary Shares will be New Shares issued by Hikma and
    approximately 27.2 million Ordinary Shares will be Existing Shares sold by
    Selling Shareholders.


  * Based on the Offer Price, the Global Offer will raise gross proceeds of
    approximately #148.8 million (assuming no exercise of the Over-Allotment
    Option), of which approximately #70.0 million will be primary proceeds
    received by the Company and approximately #78.8 million will be proceeds
    received by the Selling Shareholders.


  * An Over-allotment Option consisting entirely of New Shares has been
    granted in respect of 5% of the Global Offer, which may result in the issue
    of up to a further approximately 2.6 million New Shares by the Company. This
    would result in additional gross proceeds of up to approximately #7.4
    million being received by the Company.


  * Based on the Offer Price and the number of shares in issue of
    approximately 166.5 million (assuming no exercise of the Over-allotment
    Option), the market capitalisation of the Company at listing will be
    approximately #483.0 million.


  * Conditional dealings are expected to commence at 8.00 a.m. on 1 November
    2005 on the London Stock Exchange under the ticker symbol HIK. It is
    expected that admission of Hikma's Ordinary Shares to the Official List of
    the London Stock Exchange will become effective and unconditional dealings
    will commence at 8.00 a.m. on 4 November 2005.



  * The Company intends to apply for a secondary listing of global
    depositary receipts on the Dubai International Financial Exchange.

  * Merrill Lynch International is acting as Global Co-ordinator,
    Bookrunner, Lead Manager and Sponsor to the listing. Citigroup is acting as
    Joint Lead Manager and Export & Finance Bank is acting as Co-Lead Manager.

Commenting on today's announcement, Mr. Samih Darwazah, Chairman and Chief
Executive Officer of Hikma, said:

"We are delighted with the strong levels of interest and participation in the
Global Offer from a broad range of investors in the United Kingdom, Europe, the
United States and the Middle East. We are looking forward to the next stage of
development of Hikma as a public company."

                                    - ENDS -

Enquiries:
Hikma Pharmaceuticals plc Today
London +44 207 404 5959
Samih Darwazah, Chairman and Chief Executive Officer
Bassam Kanaan, Chief Financial Officer Thereafter
+962 6 580 2900


Merrill Lynch International
Richard Girling +44 20 7628 1000
John Plaxton
Michael Frost
Ken Lim
Lorcan O'Shea (Equity Capital Markets)


Brunswick
Jon Coles +44 20 7404 5959
Wendel Verbeek
Justine McIlroy
Alex Tweed


This announcement has been prepared and issued by Hikma Pharmaceuticals plc and
is the sole responsibility of Hikma Pharmaceuticals plc and has been approved
solely for the purposes of Section 21 of the Financial Services and Markets Act
2000 by Merrill Lynch International ("Merrill Lynch") of 2 King Edward Street,
London, EC1A 1HQ.

The information contained herein is restricted and is not for publication,
distribution or release in or into the United States of America, Canada, Japan
or Australia. This announcement is not an offer of securities for sale or
solicitation of an offer to purchase securities in the United States or any
other jurisdiction. The Ordinary Shares referred to herein have not been and
will not be registered under the U.S. Securities Act of 1933, as amended and may
not be offered or sold in the United States (as such term is defined in
Regulation S under the Securities Act) absent registration under the Securities
Act or an applicable exemption from such registration. There will be no public
offering of the Ordinary Shares in the United States.

Merrill Lynch is acting exclusively for Hikma Pharmaceuticals plc and no one
else in relation to the Global Offer and will not be responsible to any other
person for providing the protections afforded to clients of Merrill Lynch, or
for providing advice in relation to the Global Offer.

No offer or invitation to acquire shares in Hikma Pharmaceuticals plc is being
made by or in connection with this announcement. Any such offer will be made
solely by means of a prospectus proposed to be published later today and any
acquisition of shares should be made solely on the basis of the information
contained in such document and any supplements thereto. The prospectus will
contain certain detailed information about Hikma and its management, as well as
financial statements and other financial data.

The value of shares can go down as well as up. Past performance is not a guide
to future performance. Persons needing advice should consult a professional
adviser.

Certain statements contained in this announcement are or may constitute "forward
looking statements". Such forward looking statements involve risks,
uncertainties and other factors which may cause the actual results, performance
or achievement of the Company to be materially different from any future
results, performance or achievements expressed or implied by such forward
looking statements. Such risks, uncertainties and other factors include, among
others, dependency on key customers, difficulties in forecasting demand,
dependency on key suppliers, delays in the introduction of new products,
decreases in demand for the Group's products, the Company's failure to introduce
new products and to implement new techniques and general economic and business
conditions, particularly in the Middle East, North Africa or the United States.
These forward looking statements speak only as at the date of this announcement
and the Company does not undertake any obligation to update or revise publicly
any forward looking statement, whether as a result of new information, future
events or otherwise.




                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
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