Ottakringer Beverages AG turns its back on the Vienna Stock Exchange after 40 years. The company announced on Tuesday afternoon that it is looking for a so-called delisting. “It is not easy for us to say goodbye to the stock exchange, but it is a logical step,” says Christiane Wenckheim, member of the Ottakringer Holding Board of Management.
Only about three percent of the shares are in free float and there is hardly any trading. However, costs and regulatory efforts would arise.
“This decision has no influence whatsoever on the majority and control ratios or the future orientation of the group of companies,” emphasized the manager. “The company is an Austrian family business and must continue to focus on clear family values.”
An offer is made to the shareholders
In addition to the beer of the same name, the Ottakringer Group also includes Vöslauer mineral water and a beverage trade, for example. The company’s securities – common and preferred stock – are listed on the Vienna Stock Exchange in the “Standard Market Auction”. A delisting offer will be made to common and preferred shareholders.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
