PORR: Capital Increase On The Vienna Stock Exchange

After a small capital increase in the preceding year, PORR AG has just completed a follow-on offering on the Vienna Stock Exchange. Starting Friday, all new PORR shares will be traded in the segment standard market continuous. The capital increase has raised around EUR 119 million for the Austrian construction company. The share of free float in PORR AG will double after the transaction from 15% to around 34%. PORR AG has been listed on the Vienna Stock Exchange since 1869.

"The increase in the percentage of free float makes a company more attractive to investors and considerably improves continuous trading," pointed out Birgit Kuras, Member of the Management Board of Wiener Börse AG. "This year's highly satisfactory development is evidence of the currently excellent environment on the Vienna Stock Exchange and of the market’s capacity to raise fresh capital. I am very pleased that PORR AG has taken advantage of this opportunity."


Vienna ranks among the top three stock exchanges by capital inflows

In a comparison of stock exchanges in continental Europe, Vienna ranked third in the first quarter of 2014 with an issuing volume of around EUR 2.8 billion. According to the statistics of the Federation of European Securities Exchanges (FESE), only the exchanges of Spain (BME) and NYSE Euronext (comprises Paris, Brussels, Amsterdam, Lisbon), attracted more public offerings.  "The present trends make us optimistic about the coming months. The current transactions as well as studies show that investors are currently highly interested in the Austrian market at present," said Michael Buhl, member of the Management Board of Wiener Börse AG.