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VA Intertrading PowerPoint PPT Presentation


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Structure as of December 1993 after ÖIAG-act. ÖIAG. 75%. 75%. 72.3%. VA Technologie. VA STAHL. Böhler-Uddeholm. ÖMV. AMAG. ÖBAG. Others. 25%. VAIndustrie-anlagenbau. VA STAHL Linz. Böhler AG. ÖMV Energie. AMAG Metall. GKB. VA AG. ÖMV Werkstoffe. VA M.C.E. VASchienen.

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VA Intertrading

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Va intertrading

Structure

as of December 1993 after ÖIAG-act

ÖIAG

75%

75%

72.3%

VA Technologie

VA STAHL

Böhler-Uddeholm

ÖMV

AMAG

ÖBAG

Others

25%

VAIndustrie-anlagenbau

VA STAHL

Linz

Böhler AG

ÖMV

Energie

AMAG Metall

GKB

VA AG

ÖMV

Werkstoffe

VA M.C.E.

VASchienen

Uddeholms

Interess. AB

AMAG Walzwerke

WTK

VAMED

Elin Energie-versorgung

VA Intertrading

Uddeholms AB

ÖMV

Chemie

AMAG Preßwerke

VA Erzberg

GIWOG

Elin Energie-anwendung

AMAG Formprod.

VA Steinel

Austrian Energy

AMAG Systeme

Schoeller-Bleckmann

Others:

VAE Eisenbahnsysteme 26.0%

Austria Mikro Systeme 26.0%

SGP Verkehrstechnik 26.0%Siemens AG Österreich 26.0%

ÖIAG Pensionskasse27.7%

AMandA 35.0%

ElektroBau AG

AT&S

AI Informatics

VA Bergtechnik

VA Vertrieb


Va intertrading

January 2000

Ö I A G

35%

38.8%

25%

24%

OMV AG

VA Stahl AG*

Böhler

Uddeholm

VA Tech*

100%

41.1%

100%

39.7 %

17.38%

100%

Austria Tabak AG

Dorotheum

Austrian Airlines (AUA)

Flughafen Wien AG

ÖBAG

Others

ÖSD

GmbH

PMA

*VA Technologie AG holds 19.93 per cent in VA STAHL AG. VA STAHL AG holds 19.05 per cent in

VA Technologie AG.


Va intertrading

Privatisation options

  • - Direct sale:

    • Strategic industrial investor

    • Management buy out (MBO)

  • -Share offering:

    • IPO & SPO

    • Private placement

    • Strategic investor


Va intertrading

IPOs and SPOs 1994 - 1997

(million of shares) DemandAllocation

Domestic 65.5 (40%)20.1 (47%)

International 98.5 (60%)22.9 (53%)

Total 164.0 (100%)43.0 (100%)

Average subscription: 3.8 times

Total revenue: 2.75 bn US$


Va intertrading

International

Domestic

IPOs and SPOs 1994 - 1997

DEMAND (164 million shares)

ALLOCATION(43 million shares)

53%

47%


Va intertrading

Allocation


Va intertrading

International allocation 1994 - 1997

(Average of six transactions)

= Germany 6.4%

Swiss 4.9%

France 2.8%

Rest of Europe 1.9%


Va intertrading

Private shareholders of privatised ÖIAG-companies

OMV30.000

VA Tech26.000

BUAG 6.000

VA Stahl21.000

Austria Tabak62.000


Va intertrading

Portfolio

  • A portfolio of a small investor. who invested in each ÖIAG privatisation approx. ATS 10.000 (US$ 850.-) consists of:

    • Value of portfolio

    • as of Nov. 30, 1999

  • 1987:22 shares of OMV ATS 27,248.4

  • 1994:11 shares of VA Tech ATS 9,210.5

  • 1995:18 shares of BUAGATS 10,303.7

  • 1995:35 shares of VA STAHLATS 16,100.2

  • 1997:19 shares of Austria TabakATS 11,895.8

  • amount invested: ATS 67,944ATS 74,758.6

  • Capital appreciation = + ATS 6,814.6 = + 10.03 %


  • Va intertrading

    Volume of new issues and new capital

    1992 - 1997

    in EURO mio.

    All issues 1992- 1997:ATS 70.6 bn

    of which ÖIAG issues:ATS 30.7 bn = 43.5 %


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