(Vienna) The Vienna Stock Exchange is very pleased about the lively inflows of capital into the Austrian market and – after the major capital increase by Erste Bank in July – believes that Uniqa's secondary offering will create further impulses to stimulate the domestic market. "The numerous secondary offerings are evidence of the currently excellent environment on the Vienna Stock Exchange and of the market's capacity to absorb the public offerings. It also makes us optimistic about further capital market transactions in the coming months," said Birgit Kuras, Member of the Management Board of Wiener Börse AG.
With the two current capital increases of Uniqa and AT&S, which will raise around EUR 1.5 billion in fresh capital, we now have seven secondary offerings this year.
Higher free float is a positive signal
Birgit Kuras moreover views Uniqa's move to widen free float as a strong signal for the Austrian financial market. The higher level of free float will have a benign effect on the liquidity of stocks, and subsequently, on trading volumes on the Vienna Stock Exchange. Domestic trading volumes have been on a rising trend since the summer of last year. In this year’s two summer months, turnover reached EUR 3.1 billion in each month, and was thus 35% higher than in the same months of the preceding year.
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 makes access and trading on the local markets easier 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.
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