Active communication with the capital market was again one of the key duties of the IR team in financial year 2008. Personal contact with analysts and investors is an important tool for establishing and strengthening investor confidence, particularly in difficult market situations. The Vienna Insurance Group participated in a total of 13 bank conferences, and also used four roadshows organised by the Vienna Stock Exchange and a variety of investment banks to hold meetings with interested investors. Management presented the equity story and history of the Vienna Insurance Group in ten additional roadshows, including those used to place the capital increase, which took management to more than 20 cities, as far away as Japan, and in roadshows for the hybrid bond issue.
For the first time, the focus in the previous year was also placed on visits to investors in a variety of regions in the United States to present Vienna Insurance Group’s strategy and potential. A total of close to 400 contacts took place with investors and analysts in 2008.
The significant increase in interest in the Vienna Insurance Group is also reflected in the renewed rise in the number of investment banks publishing regular analyses of VIG shares. At the beginning of February this year, Deutsche Bank began coverage of VIG shares with a “Buy” recommendation. A solid balance sheet, cautious investment strategy, and the long-term growth outlook of Vienna Insurance Group in Central and Eastern Europe were the determining factors behind the “Buy“ recommendation.
Investment banks
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Atlantik
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Bank of America | Merrill Lynch
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CA Cheuvreux
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Citigroup
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Credit Suisse
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Deutsche Bank
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Erste Group
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Equita Sim
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Goldman Sachs
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JP Morgan
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Keefe, Bruyette & Woods
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Morgan Stanley
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Sal. Oppenheim
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Société Générale
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UniCredit
The Vienna Insurance Group also implemented special measures for private investors in the previous financial year. The promotion offering VIG shares for purchase free of change, which was initiated when VIG shares received their second listing on the Prague Stock Exchange and originally ran until 30 June 2008, was particularly well received. Retail investors purchased around 2 million VIG shares during a total period of eleven months under this promotion, which was extended to year’s end due to lively interest.
In order to provide private investors as well with direct access to Company information in a personal meeting, the Investor Relations department presented Vienna Insurance Group share information at one of the retail roadshows organised by “Börse Express” and “Aktienforum” as well as a discussion meeting held during the “Gewinnmesse” investment trade fair.
The information provided on the Vienna Insurance Group website at www.vig.com/ir includes up-to-date information and presentations on Vienna Insurance Group. A new “Bonds” menu item was added in 2008, providing for the first time a comprehensive overview of the bonds issued to date by the Wiener Städtische Versicherung AG Vienna Insurance Group.
Investor RelationsWiener Städtische Versicherung AG |
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