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Offer price for u-blox set at CHF 51 per share

Press Release

Thalwil, Switzerland – October 26, 2007 – The IPO of u‑blox Holding AG has met substantial interest among investors. The offer price was set at CHF 51 per registered share. The shares are listed and will commence trading on the main segment of the SWX Swiss Exchange today.

 

u‑blox, a leading Swiss technology provider in the rapidly growing global GPS market, announced the offer price for its registered shares today. As a result of the high demand by investors, the offer price was set at CHF 51 per share, at the higher end of the price range between CHF 42 and CHF 54.


The final base offering amounts to 2,657,981 registered shares, of which 1,250,000 are newly issued shares and 1,407,981 shares were sold by existing (pre IPO) shareholders. In addition, the principle pre IPO shareholders have granted the managers of the offering an over‑allotment option of up to 15% of the base offering (up to 398,696 shares). The managers of the offering have the right to exercise the over‑allotment option until November 26, 2007.


The total offering size amounts to CHF 135.6 million or CHF 155.9 million in case of a fully exercised over‑allotment option. The resulting free float will amount to about 43%; or 49% if the over‑allotment option will be exercised in full. At the offer price of CHF 51, the market capitalisation of u‑blox amounts to about CHF 318.4 million (based on a total of 6,243,370 registered shares). u‑blox intends to use the net proceeds from the newly issued registered shares for the implementation of its growth strategy and the further expansion of its market position.


Trading of the registered shares will commence on the main segment of the SWX Swiss Exchange for the first time today, under the ticker symbol UBXN. Payment and delivery of the shares is scheduled for October 31, 2007.


The major pre IPO shareholders will continue to be shareholders in the company. They have committed themselves to a lock‑up period of 180 days. The company has agreed to a lock‑up period of 180 days, and the members of the executive committee and of the board of directors have committed themselves to a look‑up period of 365 days.


Thomas Seiler, CEO of u‑blox said: “With the IPO successfully completed, we are in an even stronger position to take advantage of the market opportunities and the immense growth potential of the GPS industry”. Jean‑Pierre Wyss, Co‑founder and CFO of u‑blox added: "The listing of our shares on the SWX Swiss Exchange today is a major milestone in our company’s history and for our employees. We are delighted about the large demand for our shares, which shows the market’s confidence in our prospects as a public company".


Credit Suisse is acting as Global Coordinator and Sole Bookrunner, Zürcher Kantonalbank as Co‑Lead Manager and Helvea SA as Selling Agent for the IPO.