- Leading aircraft component manufacturer joins prime market of the Vienna Stock Exchange
- Initial trading price EUR 9.50
- FACC raises approximately EUR 213 million in initial public offering (IPO) (assuming full exercise of the greenshoe)
- Listing starts with bell ringing
(Vienna) Trading in stocks of the Austrian company FACC AG started today on the Vienna Stock Exchange. The leading global manufacturer, which supplies the aviation industry with lightweight components, raised approximately EUR 213 million in an initial public offering, assuming full exercise of the greenshoe option. EUR 150 million in fresh capital came from a capital increase. The offer price as well as the first traded price on the exchange was EUR 9.50. This results in a market capitalization of EUR 435 million. Out of a total of 45,790,000 shares, the free float ranges between 45 and 49%, depending on the exercise of the greenshoe. By joining the prime market, FACC complies with the highest transparency requirements. With this new listing, the number of stocks on the prime market of the Vienna Stock Exchange now stands at 39. Erste Group has committed itself to act as a specialist for the stock, which will generate additional liquidity throughout continuous trading.
The stock exchange bell to ring in trading
“With FACC, we are very happy to welcome a highly innovative global industrial company to the Vienna Stock Exchange. This IPO complements Austria’s track record of successful industrial global champions, many of which are listed on the Vienna Stock Exchange,” said Birgit Kuras, Management Board Member of the Vienna Stock Exchange. “By opting to list on the prime market of the Vienna Stock Exchange, the company will receive the highest level of attention among international investors.“
Walter Stephan, Chief Executive Officer (CEO) of FACC, marked the start of trading by ringing the exchange bell, adding:”The significant interest from investors confirms our strategy as a leading independent and global tier-1 supplier to the commercial aerospace industry. Following the IPO we will be in an even better position to grow our company and to actively participate in the expected consolidation of suppliers to the aerospace industry.”
After two capital increases conducted by Raiffeisen Bank International and Porr earlier this year, FACC marks the first IPO since 2011 on the Vienna Stock Exchange. This year, Austrian companies so far have raised a total of EUR 3.1 billion in fresh capital through the stock market.
About the Vienna Stock Exchange
The Vienna Stock Exchange is a 100% subsidiary of the CEE Stock Exchange Group (CEESEG) which includes the stock exchanges of Budapest, Ljubljana and Prague. The CEE Stock Exchange Group is the largest stock exchange group in the region. In addition to the four stock exchanges, CEESEG operates three commodity exchanges and holds stakes in five clearing systems (CCPs) and two central securities depositories (CSDs). CEESEG facilitates access and trading on the local markets with the aim of improving liquidity. The CEESEG stock exchanges cooperate with 12 exchanges in Central and Eastern Europe and are highly appreciated worldwide for their unique CEE know-how.