November 14, 2000
UTi Worldwide's Underwriters Exercise Over-Allotment Option.
Rancho Dominguez, California - November 14, 2000 - UTi Worldwide Inc. announced today that the underwriters of its recent public offering of 4.7 million ordinary shares priced at $15 per share, have exercised their over-allotment option to purchase an additional 705,000 shares.
Bear, Stearns & Co. Inc. acted as lead manager, with Lazard and BB&T Capital Markets acting as co-managers of the underwriting group.
UTi is a global, non-asset based supply chain management business, providing logistics, planning and optimization solutions for its customers. The company's services encompass freight forwarding, customs brokerage and warehousing, including the coordination of shipping and the storage of raw materials, supplies, components and finished goods. Through its supply chain planning and optimization services, UTi assists clients in designing and implementing systems that improve predictability and visibility and reduce supply chain costs. The company's shares are listed on the Nasdaq National Market under the symbol "UTIW."
This news release is neither an offer to sell nor a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. A registration statement relating to these securities has been filed with and has been declared effective by the Securities and Exchange Commission. A copy of the final prospectus relating to the offering may be obtained by contacting Bear, Stearns & Co. Inc., 245 Park Avenue, New York, NY 10167 (212) 272-2000.
|Contact:|| Cecilia Wilkinson / Julie Crandall |
+1 (310) 207-9300