The flotation of a 49% holding in Austrian Post is planned for late May or early June, accordingto Austrian media reports. The IPO, which could raise up to €700 million, will make the Austrian
postal operator into Europe’s third listed post office alongside Deutsche Post and TNT.The subscription period will take place during May, and the placement of the shares is scheduledfor late May or early June. The Austrian government plans to float up to 49% in the company via thestate holding group ÖIAG. Further details of the IPO plans are due to be announced shortly.
Austrian Post has also announced its financial results for the first quarter of 2006. Theoperating profit (EBIT) rose 53.1% to €49 million, while EBITDA increased by 26.8% to €69.4million. Turnover grew by 5.8% to €444.3 million.
