WILLIS GROUP HOLDINGS LIMITED PRICES SECONDARY
OFFERING OF COMMON STOCK
NEW YORK (April 30, 2003)
-- Willis Group Holdings Limited (NYSE:WSH),
the global insurance broker, today announced
that the secondary public offering by certain
of its shareholders of 17,400,000 million shares
of common stock has been increased to 21,526,100
shares and priced at $31 per share. The selling
shareholders have also granted the underwriters
an option to purchase up to 2,152,610 additional
shares to cover over-allotments, if any.
As requested by Willis, Profit Sharing (Overseas),
Limited Partnership, an affiliate of Kohlberg
Kravis Roberts & Co. L.P. and Fisher Capital
Corp. L.L.C. sold shares in the offering. Willis
did not issue any shares of common stock in
the offering.
Banc of America Securities LLC, Credit Suisse
First Boston and J.P. Morgan Securities Inc.
served as joint book-running managers of the
offering. A final prospectus relating to the
common stock offering may be obtained by contacting:
Banc of America Securities LLC
Prospectus Department
100 West 33rd Street
New York, NY 10001
646-733-4166
Credit Suisse First Boston
Prospectus Department
One Madison Avenue
New York, NY 10010
212-325-2580
JP Morgan Securities
Prospectus Department
277 Park Avenue
New York, NY 10172
212-622-5219
Upon completion of the offering, Profit Sharing
(Overseas) will own approximately 24.7% of the
outstanding shares of Willis, assuming no exercise
of the over-allotment option.
Willis Group Holdings is a leading global insurance
broker, developing and delivering professional
insurance, reinsurance, risk management, financial
and human resource consulting and actuarial
services to corporations, public entities and
institutions around the world. With over 300
offices in more than 74 countries, its global
team of 13,000 employees serves over 50,000
clients in 160 countries.
This announcement 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 in which such offer, solicitation
or sale would be unlawful prior to the registration
or qualification under the securities laws of
any such state. The offering of these securities
is made only by means of a prospectus.
Contacts:
Willis Group Holdings Limited
Investors:
Kerry K. Calaiaro,
+1 212 837-0880
calaiaro_ke@willis.com
Media:
Nicholas Jones,
+1 44 20 7488-8190
jonesnr@willis.com
or
Dan Prince,
+1 212 837-0806
prince_da@willis.com
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