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 andExchange 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: firstname.lastname@example.org;
Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick
Street, 2nd Floor, New York, NY 10014, email: email@example.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.
Zoetis (zo-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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