1 / 10

VA Intertrading

Structure as of December 1993 after ÖIAG-act. ÖIAG. 75%. 75%. 72.3%. VA Technologie. VA STAHL. Böhler-Uddeholm. ÖMV. AMAG. ÖBAG. Others. 25%. VAIndustrie-anlagenbau. VA STAHL Linz. Böhler AG. ÖMV Energie. AMAG Metall. GKB. VA AG. ÖMV Werkstoffe. VA M.C.E. VASchienen.

egan
Download Presentation

VA Intertrading

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Structure as of December 1993 after ÖIAG-act ÖIAG 75% 75% 72.3% VA Technologie VA STAHL Böhler-Uddeholm ÖMV AMAG ÖBAG Others 25% VAIndustrie-anlagenbau VA STAHL Linz Böhler AG ÖMV Energie AMAG Metall GKB VA AG ÖMV Werkstoffe VA M.C.E. VASchienen Uddeholms Interess. AB AMAG Walzwerke WTK VAMED Elin Energie-versorgung VA Intertrading Uddeholms AB ÖMV Chemie AMAG Preßwerke VA Erzberg GIWOG Elin Energie-anwendung AMAG Formprod. VA Steinel Austrian Energy AMAG Systeme Schoeller-Bleckmann Others: VAE Eisenbahnsysteme 26.0% Austria Mikro Systeme 26.0% SGP Verkehrstechnik 26.0%Siemens AG Österreich 26.0% ÖIAG Pensionskasse 27.7% AMandA 35.0% ElektroBau AG AT&S AI Informatics VA Bergtechnik VA Vertrieb

  2. January 2000 Ö I A G 35% 38.8% 25% 24% OMV AG VA Stahl AG* Böhler Uddeholm VA Tech* 100% 41.1% 100% 39.7 % 17.38% 100% Austria Tabak AG Dorotheum Austrian Airlines (AUA) Flughafen Wien AG ÖBAG Others ÖSD GmbH PMA * VA Technologie AG holds 19.93 per cent in VA STAHL AG. VA STAHL AG holds 19.05 per cent in VA Technologie AG.

  3. Privatisation options • - Direct sale: • Strategic industrial investor • Management buy out (MBO) • -Share offering: • IPO & SPO • Private placement • Strategic investor

  4. IPOs and SPOs 1994 - 1997 (million of shares) Demand Allocation Domestic 65.5 (40%) 20.1 (47%) International 98.5 (60%) 22.9 (53%) Total 164.0 (100%) 43.0 (100%) Average subscription: 3.8 times Total revenue: 2.75 bn US$

  5. International Domestic IPOs and SPOs 1994 - 1997 DEMAND (164 million shares) ALLOCATION(43 million shares) 53% 47%

  6. Allocation

  7. International allocation 1994 - 1997 (Average of six transactions) = Germany 6.4% Swiss 4.9% France 2.8% Rest of Europe 1.9%

  8. Private shareholders of privatised ÖIAG-companies OMV 30.000 VA Tech 26.000 BUAG 6.000 VA Stahl 21.000 Austria Tabak 62.000

  9. Portfolio • A portfolio of a small investor. who invested in each ÖIAG privatisation approx. ATS 10.000 (US$ 850.-) consists of: • Value of portfolio • as of Nov. 30, 1999 • 1987: 22 shares of OMV ATS 27,248.4 • 1994: 11 shares of VA Tech ATS 9,210.5 • 1995: 18 shares of BUAG ATS 10,303.7 • 1995: 35 shares of VA STAHL ATS 16,100.2 • 1997: 19 shares of Austria Tabak ATS 11,895.8 • amount invested: ATS 67,944 ATS 74,758.6 • Capital appreciation = + ATS 6,814.6 = + 10.03 %

  10. Volume of new issues and new capital 1992 - 1997 in EURO mio. All issues 1992- 1997:ATS 70.6 bn of which ÖIAG issues:ATS 30.7 bn = 43.5 %

More Related