Printer Friendly

AMWAY ASIA PACIFIC PUBLIC OFFERING

 ADA, Mich., Nov. 9 /PRNewswire/ -- Amway Corporation announced today that a registration statement had been filed with the U.S. Securities and Exchange Commission for the initial public offering of common stock of Amway Asia Pacific Ltd., a newly created Bermuda company headquartered in Hong Kong, which will be the exclusive distribution vehicle for Amway Corporation in Australia, New Zealand, Malaysia, Thailand, Taiwan, Macau and Hong Kong. The new company sells over 175 Amway consumer products through over 400,000 independent distributors. In addition, Amway Asia Pacific Ltd. will be the exclusive distribution vehicle for Amway Corporation in the People's Republic of China with sales activities anticipated to commence in mid-1995.
 The public offering will be of 7.9 million shares of common stock at an estimated price range of $16 to $18 a share. The common stock has been authorized for listing on the New York Stock Exchange. A prospectus was also lodged with the Australian Securities Commission today for a concurrent offering of 900,000 shares of the total 7.9 million shares being offered globally of Amway Asia Pacific Ltd. at a price which will be the Australian dollar equivalent of the U.S. price. Listing of these shares will be sought on the Australian Stock Exchange Limited. The net proceeds of the offering will be used by Amway Asia Pacific Ltd. principally to finance its entry into the People's Republic of China.
 Merrill Lynch & Co. is acting as the global coordinator of the entire offering. Merrill Lynch, Pierce, Fenner & Smith, J.P. Morgan Securities Inc. and Salomon Brothers Inc. will co-manage the United States offering. Merrill Lynch International Limited, Jardine Fleming International Inc. and N.M. Rothschild & Sons Limited will co-manage the international (other than Australia) component and Merrill Lynch (Australia) Equities Limited and J.B. Were & Son will co-manage the Australian offering.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication 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 jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
 -0- 11/9/93
 /CONTACT: Cameron King (New York) of Gavin Anderson & Company, 212-921-1060/


CO: Amway Corporation; Amway Asia Pacific Ltd. ST: Michigan IN: SU: OFR

GK -- NY015 -- 2012 11/09/93 06:59 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 9, 1993
Words:438
Previous Article:AMWAY JAPAN REALIGNS INVESTMENT IN ASIA PACIFIC REGION
Next Article:ESCAGENETICS RECEIVES SBIR AWARD TO DISCOVER NOVEL TAXOIDS
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters