The share of the German-Austrian construction group Strabag was listed on the Vienna Stock Exchange on Friday, reaching a value of 50 euros in the first hours of trading. This represents a gain of 6.4 percent compared to the price set by the owner at their issuance.
At the time of the listing, 973,691 shares changed hands, resulting in a trading volume of Strabag shares exceeding 50 million euros. The issuance of Strabag shares is among the largest initial public offerings in the history of the Vienna Stock Exchange. The price range was between 42 and 48 euros, and the number of requests for ownership registration exceeded the issued share package tenfold, the group announced on Thursday.
Strabag expects that the issuance of 19 million new shares will secure fresh capital amounting to 893 million euros. Existing shareholders sold 9.2 million shares, generating total revenue of 432 million euros. This brings the total value of the offered shares to 1.325 billion euros and the total capitalization to 5.358 billion euros. The group intends to use the fresh capital to finance expansion, including in Russia. (H)
