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Chr. Hansen sets a price of DKK 90 per share for its Initial Public Offering

Chr. Hansen Holding A/S (“Chr. Hansen”, or the “Company”), a global supplier of bioscience-based ingredients to the food, health and animal feed industries, today announces an offer price of DKK 90 per share in respect of its Initial Public Offering (“IPO”, or the “Offering”) of new and existing shares (“Offer Shares”). Admission to trading and official listing on NASDAQ OMX Copenhagen will take place today, June 3, 2010, under the symbol “CHR”.

Summary of the Offering

  • Despite volatile markets, the Offering has attracted strong demand from Danish andinternational institutional investors, as well as from Danish retail investors
  • The price of DKK 90 per Offer Share gives Chr. Hansen a market capitalisation of DKK 12,423million
  • The Offering (prior to any exercise of the over-allotment option) totals DKK 5,019 million,with a free float of 38.3%. If the over-allotment option is exercised in full the Offering sizewill be DKK 5,521 million, with a free float of 42.3%
  • Based on a price of DKK 90, 37,209,000 new shares will be issued by the Company, raising net proceeds of approximately DKK 3,152 million. Additionally, 18,561,732 existing shares will besold by Financière Star 1 S.A. (the "Selling Shareholder")
  • The Selling Shareholder has granted the Joint Global Coordinators (on behalf of the Managers) an over-allotment option over a further 5,577,074 existing shares with a value of DKK 501.9 million at the offer price, which is exercisable in whole or in part up to July 3,2010
  • Further details may be found in appendix 1 ("Pricing Statement")

The Offering was met with substantial interest from Danish retail and Danish and international institutional investors. The retail offering was closed after five days. Approximately 5,000 investors have been allocated shares in Chr. Hansen. Approximately 10% of the Offering (6.1m Offer Shares) were sold to retail investors in Denmark, with the remaining shares being allocated to Danish and international institutional investors.

The Selling Shareholder will hold 82,263,488 shares, comprising 59.6% of the Company's share capital following completion of the Offering, or 76,686,414 shares comprising 55.6% of the Company's share capital if the over-allotment option is fully exercised.

Admission to trading and official listing on NASDAQ OMX Copenhagen will take place today. The Company's ticker is CHR. The Company's shares have the ISIN code DK0060227585.

A total of 2,894,034 existing shares have been allocated to the Company in order to deliver shares pursuant to the Company's management incentive programs and a total of 64,441 existing shares have been allocated to members of Chr. Hansen's Board of Directors to purchase at the offer price in connection with the Offering.

In respect of orders for amounts of up to DKK 3 million, reductions have been made mathematically as follows:

  • Orders for up to and including 555 shares, corresponding to DKK 49,950, have been allocated in full;
  • Orders for up to and including 5,555 shares, corresponding to DKK 499,950, have been allocated 555 shares and 60% of the remaining order;
  • Orders for more than 5,555 shares have been allocated 3,555 shares and 30% of the remaining order above 5,555 shares.
  • Allocations in respect of orders for amounts of up to DKK 3 million have been rounded up to the nearest whole number of shares.

In respect of orders for amounts of more than DKK 3 million, individual allocations will be madeby the Selling Shareholder and the Company's Board of Directors, following consultation with theJoint Bookrunners.

The Offer Shares are expected to be delivered on or about June 8, 2010 (the "Closing Date") against payment in immediately available funds in Danish kroner. The Offer Shares will bedelivered in book-entry form on the Closing Date to investors' accounts with VP Securities andthrough the facilities of Euroclear Bank, S.A./N.V. and Clearstream Banking S.A.

Credit Suisse Securities (Europe) Ltd and J.P. Morgan Securities Ltd. are acting as Joint Global Coordinators, while Credit Suisse, Danske Markets (Division of Danske Bank A/S), J.P. Morgan,Morgan Stanley & Co. International plc and SEB Enskilda (part of Skandinaviska Enskilda BankenAB (publ)) are acting as Joint Bookrunners and Carnegie Bank A/S and Crédit Agricole Corporateand Investment Bank are acting as Co-Lead Managers.

Lars Frederiksen, CEO of Chr. Hansen commented:

"We are very pleased with the substantial interest we have received from retail and institutional investors in Denmark and institutional investors internationally, particularly in light of the recent market turbulence. We see this as a strong sign of confidence in our business model and our plans for the next phase of growth. We are delighted to welcome the approximately 5,000 new shareholders, and are at the same time pleased to be able to continue the successful collaboration with PAI Partners who have retained a considerable stake in the company."

Frédéric Stévenin, Partner at PAI Partners, commented:

"We are delighted with the outcome achieved today, confirming what has long been our belief,that Chr. Hansen is an attractive proposition for investors. Working closely with the management, we have built a dynamic, market leading business that has significant growthpotential. We believe that Chr. Hansen has a strong future ahead of it as a publicly listed company and will be retaining a significant stake in the business going forward."

Notes

For further information, please contact:

Ole Andersen, Chairman
Tel: +45 4574 7623

Lars Frederiksen, CEO
Tel: +45 4574 7474

Ulrik R. Søndergaard, Corporate Communications
Tel: +45 4574 7109

About Chr. Hansen

Chr. Hansen is a global bioscience company that develops natural ingredient solutions for the food, nutritional, pharmaceutical and agricultural industries. All solutions are based on strong research and development competencies and significant technology investments. The company enjoys market leadership in all its divisions: Cultures & Enzymes, Health & Nutrition and Colors & Blends. There are more than 2,200 dedicated employees in over 30 countries. For further information, please visit www.chrhansen.com.

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