PORR capital increase is a huge success

• All 2,645,000 new shares placed successfully
• Tranche 1 was four times covered; Tranche 2 was 22 times covered
• Gross proceeds of around EUR 119m strengthen equity base

Vienna, 29 April 2014 – In the course of its recently completed capital increase, PORR AG placed all available new shares. Investors had subscribed to a total of 2,645,000 new shares in two tranches by the end of the subscription and offer period on April 28th 2014. The preplacement of 2,164,138 shares on April 9th and 10th 2014 was four times covered, whereby the subscription and offer price was set at EUR 45.00 per share. After subscription rights were exercised, the second tranche of 480,862 new shares was 22 times covered. Total gross proceeds of EUR 119 m were raised in this capital increase.
 
PORR management was supported in this transaction by the Joint Bookrunners and Joint Lead Managers Berenberg, Erste Bank, RCB and the Co-Lead Manager, Baader Bank. The pre-placement in particular attracted very significant investor interest and was completed within just a few hours, resulting in positive reactions from the Austrian and international capital markets.
 
PORR CEO Karl-Heinz Strauss on the successful completion of the transaction: “We are delighted with the results of this capital increase. The strong interest from domestic and, above all, international investors confirms that the financial community shares our conviction that we are on the right track with our intelligent growth strategy and focus on our home markets. Another objective was to significantly increase our free-float – this has been achieved with the capital increase. The proceeds from this transaction strengthen the Group’s capital base and thereby also contribute to improving our credit metrics”.
 
PORR will use the proceeds primarily to strengthen the Group’s equity and to pay back the ABAP profit participation rights in full or in part (profit participation rights issued by a PORR subsidiary). In addition, proceeds could also be used to expand PORR’s business activities and to finance potential acquisitions on its home markets.