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Bookrunner announces revised price for BAWAG shares in float‍​
October 20, 2017 / 1:31 PM / in a month

Bookrunner announces revised price for BAWAG shares in float‍​

ZURICH, Oct 20 (Reuters) - A revised price range of 48 euros ($56.65) to 49 euros ($57.83) per share has been announced for the float of BAWAG, the Austrian bank majority owned by U.S. private equity group Cerberus Capital Management , one of the bookrunners said on Friday.

BAWAG plans to raise up to 2.1 billion euros ($2.48 billion) in its initial public offering, which would be the biggest IPO in Austrian history. The deal values the bank at up to 5.2 billion euros. [nFWN1MN0GO

“Books are covered throughout that range and above,” the book runner said. “Books will close at 1pm UK on Tuesday.”

A prospectus published earlier this month said up to 40.25 million shares would be offered at a price of 47 euros to 52 euros ($55.60 to $61.51) each. [nL8N1MM3UV‍]​ ($1 = 0.8472 euros) (Reporting by John Revill; Editing by Shadia Nasralla)

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