A rePort: How is a head- liner actually produced? friedrich ... - polytec

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INVESTOR
RELATIONS
INITIAL PUBLIC OFFERING
POLYTEC HOLDING AG shares have been listed on the Vienna
stock market exchange since May 2, 2006 under the abbreviation
“PYT”. The positioning took place in the framework of an open
offer in Austria and a European Private Placement in accordance
with Regulation S of the US Securities Act of 1933. Institutional
investors from the USA (as defi ned by regulation 144A of the Securities
Act) were excluded from the offering. The offer included
8,616,056 shares from the possession of the Private Equity Partner
Capvis as well as 3,000,000 shares from an increase in capital
of POLYTEC HOLDING AG. The issue price was determined in the
middle of the EUR 6.75 and EUR 8.75 price band at EUR 7.75.
In total, the issue volumes amounted to EUR 90 million. The proceeds
fl owing into the business from the capital increase of EUR
23.25 million were earmarked for the fi nancing of further expansion
of the POLYTEC GROUP.
The shares were positioned by means of Lehman Brothers, CA-IB
and Sal. Oppenheim; Co-Manager was the RLB in Upper Austria.
68.0% of Polytec shares were transferred as free fl oat after the
stock market fl otation (incl. 1,742,408 shares kept by Capvis). The
demand was apportioned 15% to private investors and 85% to
institutional investors. According to geographical criteria, 36% of
the shares were subscribed in Austria, 31% in UK and 12% in
France. The remaining 21% of the shares were divided between
Germany, Switzerland and the Netherlands.
An expanded roadshow went ahead at the beginning of trading,
which the management of POLYTEC HOLDING AG took to London,
Frankfurt, Vienna, Amsterdam, The Hague, Rotterdam, Paris
and Zurich. In total, 30 one on ones were held in six days as well
POLYTEC
ANNUAL REPORT 2006
INVESTOR
RELATIONS
as six group presentations. To guarantee the equal treatment of
all potential shareholders an information retail event was organized
for interested private share holders in Linz, Upper Austria.
Around 600 visitors were granted not only a detailed overview into
the business activities of the POLYTEC GROUP, but also offered
the opportunity to become acquainted with the members of the
management team personally.
DEVELOPMENT OF POLYTEC SHARES
The period before and above all after the stock market listing of
POLYTEC was not only marked by a general cloudiness of the
stock market – at the same time a decline of the market and the
industry spheres had been noted. Above all, in the important fi -
nancial centre Germany, only weak interest could be created for
the issue, on the basis of the restricted development of the car
industry. The industry environment – but also the general market
indices clearly mirror this environment. In the fi rst half of 2006, the
sector index of the car industry, the Dow Jones Euro Stoxx, “Automobile
& Parts” (SXAE) lost 11.14%. Also the ATX-Prime index
recorded a clear improvement in the spring. This negative sector
trend could also not escape Polytec shares. After a clear recovery
in the last quarter of 2006, they closed at EUR 7.05 at the end of
their fi rst year on the stock market. The performance appeared
stronger in the fi rst few months of 2007. On 6th February 2007,
Polytec shares quoted an all-time high of EUR 9.23 (closing price),
around 19% higher than when they were issued almost 10 months
before.