FACC AG sets IPO offer price at EUR 9.50 per share
Aerospace component manufacturer FACC AG has set its initial public offering (IPO) price at EUR 9.50 per share. Trading on the Vienna Stock Exchange is expected to commence on Wednesday, June 25, 2014.
FACC AG, a manufacturer of composite components for the aerospace industry, announced on June 24, 2014, that the offer price for its initial public offering (IPO) has been set at EUR 9.50 per share. The company's listing on the Vienna Stock Exchange is scheduled to begin on Wednesday, June 25, 2014.
The total offering size, assuming full exercise of the greenshoe option, amounts to approximately EUR 213 million. This includes both a capital increase to raise around EUR 150 million and a secondary tranche from a selling shareholder totaling approximately EUR 43.8 million.
At the offer price, FACC's market capitalization is valued at EUR 435 million. The free float will be 45 percent excluding the greenshoe, rising to 49 percent if the option is fully exercised. The offering was reportedly oversubscribed.
FACC is a leading global designer, developer, and producer of advanced fiber-reinforced composite components and systems for the aerospace industry, serving major aircraft manufacturers such as Airbus, Boeing, and Bombardier. For the 2013/14 business year, FACC reported a turnover of EUR 547.4 million and employed approximately 3,000 people.