Postbank IPO honored as Best Equity Deal 200402/17/2005, 12:00 AM CET
Communication and innovative structure seen as success factors
The internationally renowned banking and capital markets publication EUROMONEY has awarded Postbank's IPO of June last year the title of Best Equity Deal 2004 in Western Europe.
The Postbank IPO was selected as its success had been remarkable in consideration of the difficulties surrounding the transaction, explains the London-based magazine in its latest issue. The turbulent run-up to the IPO could easily have jeopardized the entire operation. According to EUROMONEY, however, the communication strategy developed by Deutsche Post World Net and the alternative approach the company pursued with its innovative transaction structure had been crucial to the success of the Postbank stock exchange debut.
Each year the publication honors transactions that have been of outstanding significance to the capital market by virtue of their structure, innovative design, responsible communication with investors, or unusual circumstances.
Deutsche Post World Net took its financial arm public on June 23, 2004. With an issue volume of around EUR 2.6 bn the Postbank IPO was the largest IPO in Germany since 2000, the year Deutsche Post AG went public.
"We are delighted to receive this award, as it confirms once again the success of our strategy," commented Klaus Zumwinkel, Chairman of Deutsche Post World Net. "By combining a stock offering with the issue of an exchangeable bond Deutsche Post World Net achieved the proceeds it had aimed for in the run-up to the transaction. At the end of the day, both the investors and we as the issuer were satisfied," he continued.
From the issue price of EUR 28.50, Postbank's share price has increased by around 25 percent, peaking at over EUR 36.