becker vortrag standard

1
Structure as of December 1993 after ÖIAG-act
ÖIAG
72.3
75
75
Böhler-Uddeholm
VA Technologie
AMAG
VA STAHL
ÖBAG
Others
ÖMV
25
AMAG Metall
VAIndustrie-anlagenbau
VA STAHL Linz
Böhler AG
ÖMV Energie
GKB
VA AG
ÖMV Werkstoffe
VA M.C.E.
WTK
VAMED
Uddeholms Interess. AB
AMAG Walzwerke
VASchienen
VA Intertrading
Uddeholms AB
ÖMV Chemie
VA Erzberg
GIWOG
AMAG Preßwerke
Elin Energie-versorgung
AMAG Formprod.
VA Steinel
Elin Energie-anwendung
Schoeller-Bleckmann
AMAG Systeme
Austrian Energy
Others VAE Eisenbahnsysteme 26.0 Austria Mikro
Systeme 26.0 SGP Verkehrstechnik 26.0Siemens
AG Österreich 26.0 ÖIAG Pensionskasse 27.7 AMan
dA 35.0
ElektroBau AG
ATS
VA Bergtechnik
AI Informatics
VA Vertrieb
2
January 2000
Ö I A G
24
38.8
25
35
OMV AG
VA Tech
VA Stahl AG
Böhler Uddeholm
100
100
41.1
100
39.7
17.38
Austria Tabak AG
ÖBAG
Others
Dorotheum
Austrian Airlines (AUA)
Flughafen Wien AG

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.
3
Privatisation options

• - Direct sale
• Strategic industrial investor
• Management buy out (MBO)
• - Share offering
• IPO SPO
• Private placement
• Strategic investor

4
IPOs and SPOs 1994 - 1997
(million of shares) Demand Allocation 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
5
IPOs and SPOs 1994 - 1997
ALLOCATION (43 million shares)
DEMAND (164 million shares)
53
47
6
Allocation
7
International allocation 1994 - 1997 (Average of
six transactions)
Germany 6.4 Swiss 4.9
France 2.8 Rest of Europe 1.9
8
Private shareholders of privatised ÖIAG-companies
OMV 30.000 VA Tech 26.000 BUAG
6.000 VA Stahl 21.000 Austria Tabak 62.000
9
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
BUAG ATS 10,303.7 1995 35 shares of VA
STAHL ATS 16,100.2 1997 19 shares of
Austria Tabak ATS 11,895.8 amount
invested ATS 67,944 ATS 74,758.6
Capital appreciation ATS 6,814.6
10.03
10
Volume of new issues and new capital 1992 - 1997
in EURO mio.
All issues 1992- 1997ATS 70.6 bn of which ÖIAG
issuesATS 30.7 bn 43.5