Austria to sell its Voestalpine stakes

Austria to sell its Voestalpine stakes

Austria privatisation agency OIAG has recently announced that, it plans to sell 25% of its stake in Voestalpine on the Vienna Stock Exchange and remainder, which corresponds to 9.7% will remain as bonds to be converted into Voestalpine shares later on. OIAG has also stated that, its secondary equity offerings will be presented to public in Austria and international offers will be presented to institutional investors in US. The offer price will be declared on September, 18. According to OIAG, the shares that constitute the bond offerings are expected to correspond to 10-15% of Voestalpine's outstanding share capital. The final size and the terms of the bond will be announced on September, 18.