October 10, 2000
UTi Worldwide Files Registration Statement for Proposed Public Offering
Rancho Dominguez, California, October 10, 2000 - UTi Worldwide Inc. today announced it has filed a registration statement with the Securities and Exchange Commission relating to a proposed public offering of 4.7 million of its ordinary shares at an indicated range of $15 to $17. All of the shares are being offered by the company.
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.
Bear, Stearns & Co. Inc. will act as the lead managing underwriter of the offering. Other managing underwriters are Lazard and BB&T Capital Markets. UTi has agreed to grant the underwriters a 30-day option to purchase up to an additional 705,000 shares of stock to cover over-allotments, if any.
When available, copies of the preliminary prospectus relating to the offering may be obtained from Bear, Stearns & Co. Inc., 245 Park Avenue, New York, NY 10167 (212) 272-2000.
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 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 such state or jurisdiction.