(Vienna) Wiener Börse has performed excellently again after the record-breaking years 2004 and 2005. In 2006, initial public offerings (IPOs) and capital increases raised EUR 11.87bn, thus breaking a new record in the inflow of fresh capital (2005: EUR 6.6bn). Market capitalization climbed in 2006 by 36% to an all-time high of EUR 145.8bn. The most dynamic development was posted in average monthly trading volumes: These were up by 73.8% at the end of November on Wiener Börse, and currently stand at EUR 10.6bn.
“The ATX achieved a gain of 21.7%, failing to match the dynamic performance of the two preceding years by a thin margin," commented Michael Buhl, member of the management board of Wiener Börse AG, on the development of the leading index of Wiener Börse. “Nonetheless, the ATX has developed very well in international comparison,” said Mr. Buhl.
“This excellent performance has been driven, of course, primarily by the outstanding achievements of our listed companies that are strongly engaged in Eastern Europe,” explained his colleague on the board, Heinrich Schaller. “These companies have succeeded in conquering leading positions in niche markets. Moreover, our internationalization strategy to win foreign investors and trading members has also contributed substantially to this success,” Mr. Schaller continued.
Alone this year, Wiener Börse acquired six new international members for direct trading on Wiener Börse. These include prominent firms such as the global investment company, Goldman Sachs, which was linked up as a member just one week ago. Foreign trading members account for around 56% – and thus more than half – of trading volume on Wiener Börse. At seven roadshows conducted by Wiener Börse jointly with banking partners and listed companies at international financial markets like London, New York and Zurich, last year’s record was broken as well: In total, the top management of listed companies held over 600 meetings with some 330 institutional investors.
High level to be sustained in 2007 as well
The two members of the management board are well aware that this steep trend cannot be repeated every year. Specifically, the management board of Wiener Börse aims to maintain this year’s level of average monthly trading volumes and newly acquired capital of each EUR 11 to 12bn. “This dynamic cannot be continued eternally. Our goal for 2007 is to maintain the high level achieved and reinforce our role as driver of the Austrian capital market and important source of stimulation of the economy,” Buhl and Schaller agreed. In summer, a study conducted by IHS confirmed the positive correlation between the excellent performance of Wiener Börse and growth and employment in Austria.