Radex-Heraklith (RHI AG), the Austrian manufacturer of industrial fireproof materials, has set the price for new shares at Euros 23.90, Erste Bank said.
The bank said the price, which was at the low …
Radex-Heraklith (RHI AG), the Austrian manufacturer of industrial fireproof materials, has set the price for new shares at Euros 23.90, Erste Bank said. The bank said the price, which was at the low end of the price range, was fixed in view of a recent closing price at Euros 25.05 on the Vienna Bourse. “The RHI share, despite poor market conditions, is in strong demand with private clients as well as institutional investors, which meant that orders had to be considerably shortened in part for those institutional investors who had no rights,” according to Erste. RHI recently named the price range for new shares at between Euros 23.90 and 27.30. The company offered six million new shares partly to finance its friendly takeover of Global Industrial Technologies Inc., which it bought for Sch 3.9 billion. The new stock to be traded in Vienna and Frankfurt started on October 19.