STRABAG SE to offer up to 28,200,001 ordinary no par value bearer shares for sale from 8 October 2007, consisting of up to 16,000,000 new ordinary no par value bearer shares from a capital increase, up to 9,200,001 ordinary no par value bearer shares from holdings of the existing shareholders and a greenshoe of up to 3,000,000 new shares
Vienna, 8 October 2007 – Austria’s Financial Market Authority (FMA) on 5 October 2007 approved the prospectus for the public offer of up to 28,200,001 ordinary no par value bearer shares of STRABAG SE, consisting of up to 16,000,000 new ordinary no par value bearer shares from a capital increase, up to 9,200,001 ordinary no par value bearer shares from the holdings of the existing shareholders and a greenshoe option of up to 3,000,000 new ordinary no par bearer shares. The IPO consists of a public offer to private and institutional investors in Austria as well as an international private placement outside the United States of America under Regulation S.
The IPO launch is set for 8 October 2007. During an early order period, shares will be offered on a preferential allotment basis to private investors until no later than 6pm CEST on 16 October 2007. Such orders can only be placed with Raiffeisen Centrobank AG, any Austrian Raiffeisenbank, Erste Bank, any Austrian Sparkasse (except BA-CA) and ecetra Central European e-Finance AG (brokerjet.at). The maximum order size for preferential allotment for private investors is 250 shares. Later subscriptions by private investors will be accepted until 6pm CEST on 17 October 2007. The subscription periods may be shortened at any time.
The subscription period for institutional investors ends no later than 12 noon CEST on 18 October 2007. The subscription periods may be shortened or extended at any time, the offer may be suspended completely, and orders may be reduced or not executed at all. The price range has been set at EUR 42 to EUR 48. The final offer price will be determined through a book-building process and is expected to be set and made public on 18 October 2007. STRABAG SE will apply for official trading on the Vienna Stock Exchange of its equity capital of up to 113,999,997 shares, with inclusion for trading in the Prime Market Segment of the exchange (under the symbol “STR”) expected on 19 October 2007. Delivery of the shares is expected to take place on or around 23 October 2007 against payment of the final offer price.
The proceeds from the capital increase are to be used above all to pursue the following strategic objectives of STRABAG:
Driving market consolidation through selective acquisitions
- Bolt-on acquisitions in CEE-markets to expand market leadership
- Acquisitions in road construction in Western European markets
- Acquisitions in specialized growth segments (e.g. environmental technologies, rail track construction)
Strengthening of equity base to increase engagements in infrastructure PPP-projects
Further expansion of building material base
- Cement production – joint venture with BaselCement
- Acquisitions of gravel pits
Expanding into construction related services
- E.g. facility management
Joint bookrunners in the transaction are Deutsche Bank AG, Raiffeisen Centrobank AG and Goldman Sachs International. Joint lead managers are Deutsche Bank AG, Raiffeisen Centrobank AG, Goldman Sachs International and Erste Bank der oesterreichischen Sparkassen AG. Joint lead managers in the retail segment are Raiffeisen Centrobank and Erste Bank. Co-managers are Dresdner Bank AG, Landesbank Baden-Württemberg, Raiffeisenlandesbank Niederösterreich-Wien AG, Raiffeisenlandesbank Oberösterreich Aktiengesellschaft and Raiffeisen-Landesbank Steiermark AG.
This press release does not represent an offer to sell nor is it a solicitation or an invitation to buy securities of STRABAG SE. Rather, it is intended to serve informational purposes only. In connection with the public offering of securities of STRABAG SE in Austria, the only information which is binding is the information contained within the published securities prospectus approved by the Austrian Financial Market Authority. The prospectus can be obtained free of charge from STRABAG SE, Donau-City-Straße 9, 1220 Vienna, Raiffeisen Centrobank AG, Tegetthoffstraße 1, 1015 Vienna, Deutsche Bank AG, Vienna Office, Hohenstaufengasse 4, 1010 Vienna, or Erste Bank der oesterreichischen Sparkassen AG, Graben 21, 1010 Vienna, during the regular business hours. No orders for subscription placed before 8 October 2007 will be accepted. These materials are not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act of 1933, as amended. No public offering of securities of Strabag SE will be made in the United States. Neither Strabag SE nor any of its shareholders intends to register any present or proposed offering of securities of Strabag SE in the United States.