Privatization
Timeline of BÖHLER-UDDEHOLM privatization:
1993:
In November, the Austrian Government decides to privatize companies that are owned by the Austrian State Holding Company ÖIAG including BÖHLER-UDDEHOLM.
1995:
BÖHLER-UDDEHOLM issues 3,000,000 new shares and the company is introduced to the Vienna Stock Exchange (initial public offering). Since ÖIAG does not participate in this rights issue their stake in BÖHLER-UDDEHOLM is diluted from 100% to 72.7%. The share offering is 1.7-times over-subscribed; first trading day for BÖHLER-UDDEHOLM on Vienna Stock Exchange is April 10, 1995.
1996:
In March, ÖIAG sells a stake of 5,250,000 BÖHLER-UDDEHOLM shares via the stock market. The share offering is 3.5-times over-subscribed. Due to this secondary public offering ÖIAG reduces its stake in BÖHLER-UDDEHOLM down to 25% (75% are now free floating). The majority stake of BÖHLER-UDDEHOLM is privatized.
2003:
In way of a further secondary public offering through the stock market during November, ÖIAG sells its remaining 2,750,000 shares in BÖHLER-UDDEHOLM. The share offering is almost 4-times over-subscribed. 100% of the shares are now in private hands. Exactly ten years after the first decision of the Austrian Government BÖHLER-UDDEHOLM is fully privatized.
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