DHL 2000 Annual Report Download - page 44

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AKTIE GELB
36
A difficult year for the w orld’s capital markets
In 2000 the German stock market was dominated by the downturn that
began in the Neuer Markt in the early part of the year,by rising crude oil
prices and higher interest rates.Whereas 1999 had been a record year
for the capital market with 168 new issues,with just 152 new companies
venturing along that route in financial year 2000 issue activity was more
tentative.
Stock markets across the worlds also found themselves in troubled waters.
In the USA the Federal Reserve responded to inflation with interest rate
hikes. The technology index Nasdaq had to weather a 40% loss in value
during 2000.
Important course setting prior to IPO
As per end of 1999 Deutsche Post AG had over 42,800,000 shares at a nominal
value of DM 50 per share.After the increase in the share capital from capital
reserves, the switch to the Euro, and conversion to no-par value and regis-
tered shares, as at November 9, 2000 the share capital stood at 1,112,800,000
registered no-par value shares.In total,the share capital was increased from
capital reserves by around €18.6 million to around €1.1 billion.
Successful debut for
AKTIE GELB
Deutsche Post AG’s stock market debut on November 20,2000 in the Official
Trading Segment of the Frankfurt stock exchange was a success,despite the
difficult market environment.In total there was an eight-fold subscription,
the surplus allocation option was exercised and around 320 million shares
were allocated.At an issue price of €21 and an early order discount of
€0.5 per share for private investors, that corresponds to an issue volume
worth €6.6 billion.And that made it the largest new admission to the stock
market in Germany in the year 2000.Around half of the entire offering was
allocated to institutional investors.The other half went to private investors in
Europe and Japan.
Ownership structure of Deutsche Post AG as at 01.31.01
Free float
around 31%
Fed. Government
50 %
plus 26 shares
KfW
around 19%