Schoenherr case study

Austria: New trends in equity offerings

Published by : Schoenherr

The last company to go public in a large IPO on the Vienna Stock Exchange was STRABAG SE in October 2007. Other IPOs still planned for the end of 2007 were cancelled shortly before their launch. Since then capital markets and, in particular, equity capital markets have suffered dramatically from the worldwide financial crisis, not only in Austria but worldwide. The year 2008 saw capital increases of some Austrian issuers, such as WIENER STÄDTISCHE Versicherung AG, Vienna Insurance Group and UNIQA Versicherungen AG. In 2009 the activity on equity capital markets has increased (starting from a very low level) in the form of rights issues. For instance, PORR, a construction company, Wienerberger AG, KTM Power Sports AG and most recently Erste Group Bank AG have launched capital increases in 2009, and the market is speculating about further rights issues which may still be launched in 2009 or early 2010.

Published:22 April 2010

Business Area: Markets

Type: Portable Document Format (.pdf)

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