LifeStar Holding plc - IPO & Exchange Offer Prospectus

On 5 May 2021, LifeStar Holding plc announced that it received regulatory approval in relation to the Initial Public Offering (‘IPO’) of its life insurance subsidiary LifeStar Insurance plc. As a result, LifeStar Holding will be offering for sale just over 18.5 million shares in LifeStar Insurance at an offer price of €0.54 per share. Moreover, LifeStar Holding will be offering 6.57 million shares that it holds in LifeStar Insurance to its shareholders in exchange for their ordinary shares in LifeStar Holding, at an exchange ratio of 1:1.

LifeStar Holding explained that the net proceeds from the IPO will be primarily used to redeem the €10 million 5% unsecured bonds maturing on 2 June 2021. Any amounts raised in excess of the €10 million earmarked for the bond redemption will be used for general corporate funding purposes. Further details about the IPO and the Exchange Offer are available in the Prospectus dated 4 May 2021.

The shares of LifeStar Insurance are expected to be admitted to the Official List of the Malta Stock Exchange on 31 May 2021 and trading is expected to commence on 1 June 2021.

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