euro adhoc: Austrian Airlines AG
Capital measures
Capital Increase with
approximately EUR 367 million offer volume successfully completed
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
01.12.2006
Offer price fixed at EUR 7.10 per new share
Following the expiry of the subscription and offer periods for the public offer in Austria of up to 51,680,000 new ordinary bearer shares with no par value of Austrian Airlines Österreichische Luftverkehrs-Aktiengesellschaft, the company announces the successful completion of the offering.
Result of the ordinary capital increase - overview
Volume of the capital increase
(calculated notional amount) EUR 3 divided into 51,680,000 new ordinary
bearer shares with no par value
Final offer price EUR 7.10 per new share
Offer volume EUR 366,928,000Commencement of trading of the new shares on the Vienna Stock Exchange expected for 5 December 2006
Demand was strong amongst both international institutional investors as well as retail and institutional investors in Austria. The principal shareholder, ÖIAG, and the other shareholders represented in the Austrian Syndicate also participated in the offering (as previously announced), and continue to hold a total share of 50% plus one share in the company. Merrill Lynch and Bank Austria Creditanstalt acted as underwriters and advised Austrian Airlines Österreichische Luftverkehrs-Aktiengesellschaft in connection with the implementation of the capital increase.
Austrian Chief Executive Officer Alfred Ötsch commented as follows on the successful capital increase: 'With the successful completion of our transaction, we have taken an important step in our restructuring program. I would like to thank our institutional and retail investors for the confidence they have shown in the company. The fact that we were able to place all of the offered new shares in the current volatile market environment of the airline industry underlines the acceptance of our corporate strategy. We also believe that it reflects the investors' confidence in the company's future prospects as it continues to assert itself as a specialist carrier in the European airline market.
The proceeds from the offering will enable us to boost our earning power as a leading airline in air traffic to Eastern Europe, and to strengthen our capital structure. In addition, the proceeds will allow us to speed up the restructuring measures already introduced with the aim of achieving profitable growth as a quality airline and ultimately returning to profitability.'
Disclaimer: This ad hoc release constitutes neither an offer to sell nor a solicitation to buy any securities. The securities have already been sold.
This ad hoc release and the information contained therein are not designed for circulation in the United States of America (USA) or within the USA, and may not be distributed or conveyed to "U.S. persons" (as defined in Regulation S of the U.S. Securities Act of 1933 in the currently valid version) or to publications with a general distribution in the USA.
The new shares and purchase rights have not been registered
either in accordance with the United States Securities Act of 1933
("Securities Act") or with other securities supervisory authorities
of the USA. Purchase rights may not be exercised by or for persons
in the USA. Persons outside the USA may only exercise purchase
rights in "offshore transactions" and subject to application of
Regulation S of the Securities Act.end of announcement euro adhoc 01.12.2006 16:23:33
Further inquiry note:
Konzernkommunikation:
Johannes Davoras
Johann Jurceka
Tel.: 051766-1231
Investor Relations
Dr. Prisca Havranek-Kosicek
Tel.: 051766 - 3700
Branche: Air Transport
ISIN: AT0000620158
WKN: 875224
Index: WBI, ATX Prime, ATX
Börsen: Wiener Börse AG / official dealing