• Biggest IPO in the history of the Vienna Stock Exchange.
• Record high demand from Austrian retail investors.
• Offer receives global attention.
• Book 22-times over-subscribed. Reduced allocation necessary.
• Strong signal for the Austrian capital market.

The Initial Public Offering (IPO) of Raiffeisen International Bank-Holding AG (Raiffeisen International) is, with a volume of € 1.11 billion, subject to the exertion of the option to cover for over-allotments, the biggest IPO in the history of Austria. It has attracted a record high demand from investors in Austria and abroad. The offering of 29.8 million shares generated orders for almost 680 million shares, an over-subscription of about 22 times. Austrian retail investors alone placed about 84,000 orders for a total of more than 34 million shares of Raiffeisen International.

Herbert Stepic, CEO of Raiffeisen International, values this IPO as a sign of the vitality of the Austrian capital market. “Demand from Austrian retail as well as institutional investors was € 4 billion. International institutional investors have also shown great interest in Raiffeisen International. Our growth strategy has experienced enormous resonance, with major orders coming in from Europe, the U.S., and Asia, sometimes in the hundreds of million of Euros”, says Stepic.

The issue price for the 29.8 million shares on offer has been fixed at € 32.5, valuing the deal at € 968.5 million. The 13.3 million shares resulting from a capital increase will provide € 432.25 million (without the option to cover for over-allotments) which will be used to fund further growth of Raiffeisen International. An additional 16.5 million shares are being sold by existing shareholders.

There is also an option to cover over-allotments of 15 per cent (4.47 million shares), which can be exercised by the lead managers within 30 days of the underwriting of the agreement. If this option is exercised the volume will increase to 34.27 million shares valuing the deal at € 1.11 billion.

At 72 per cent of the common stock (70 per cent, if the option to cover for over-allotments is exercised) RZB will remain majority shareholder of Raiffeisen International. The remaining 28 per cent (30 per cent) will be free-float. The existing shareholders International Finance Corporation (IFC) and European Bank for Reconstruction and Development (EBRD) will remain with a share of about 3 per cent each.

For further information please contact Michael Palzer (+43.1.71707-1504, michael.palzer@ri.co.at) or Andreas Ecker-Nakamura (+43.1-71707-1753, andreas.ecker@rzb.at)
www.ri.co.at