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Gates Industrial Corporation plc Announces Launch of Initial Public Offering

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DENVER, Jan. 12, 2018 /PRNewswire/ –­ Gates Industrial Corporation plc (“Gates” or “the Company”), a global manufacturer of products used in many sectors of the industrial and consumer markets, announced today the launch of its initial public offering of 38,500,000 of its ordinary shares.  The initial public offering price is expected to be between $18.00 and $21.00 per share.  Gates expects to grant the underwriters a 30-day option to purchase up to an additional 5,775,000 ordinary shares.  Gates has been approved to list its ordinary shares on the New York Stock Exchange under the symbol “GTES.”

Gates intends to use the net proceeds from the offering primarily to, among other things, repay certain outstanding indebtedness.

Citigroup, Morgan Stanley and UBS Investment Bank are acting as joint book-running managers for the offering. Barclays, Credit Suisse, Goldman Sachs & Co. LLC and RBC Capital Markets are also acting as joint bookrunners for the offering. Blackstone Capital Markets, Deutsche Bank Securities, Wells Fargo Securities, Current Capital Securities LLC, KeyBanc Capital Markets, Siebert Cisneros Shank & Co., L.L.C., SunTrust Robinson Humphrey, Academy Securities, BTIG and Guggenheim Securities are acting as co-managers for the offering.

The proposed offering of these securities will be made only by means of a prospectus. When available, copies of the preliminary prospectus relating to the proposed initial public offering may be obtained from: Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by phone at (800) 831-9146; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, Second Floor, New York, NY 10014; or UBS Securities LLC, Attention: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019 or by phone at (888) 827-7275.

A registration statement, including a prospectus, which is preliminary and subject to completion, 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 that 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.

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