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UPDATE 1-BAWAG IPO orders below 48 eur/shr risk missing out - bookrunner

Published 2017-10-24, 04:05 a/m
© Reuters. UPDATE 1-BAWAG IPO orders below 48 eur/shr risk missing out - bookrunner

(Adds details on deal valuation)

VIENNA, Oct 24 (Reuters) - Orders below 48 euros ($56.39) per share for the initial public offering of Austrian lender BAWAG BAGW.VI risk missing out on the float, with the books closing at 1200 GMT, one of the bookrunners said on Tuesday.

A revised, narrower price range of 48 euros to 49 euros per share was announced on Oct. 20 for BAWAG, which is majority owned by U.S. private equity group Cerberus Capital Management CBS.UL .

At that range BAWAG plans to raise up to 1.97 billion euros in its offering, which would be the biggest IPO in Austrian history. The deal values the bank at up to 4.9 billion euros.

BAWAG had originally planned to raise up to 2.1 billion euros in its offering, valuing the bank at up to 5.2 billion euros. = 0.8513 euros)

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