Local banks back Austrian aluminium

30 Mar 2011

AMAG Austria Metall gained a second cornerstone investors for its Eu535m Vienna IPO this week as independent outfit Oberbank revealed it has committed to take a 5% plus one share stake in the speciality aluminium company. The company has also met with a strong response to its roadshow, said bankers close to the deal.

Oberbank will join Raiffeisen Centrobank in the book, after the cooperative institution committed in the deal prospectus to take a similar stake.

AMAG is selling 5.3m new shares while One Equity Partners and Constantia Packaging are selling 16.99m of the existing 30m shares, as well as providing a 3.3m ...

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