OMV AG (rights issue)

Canaccord Genuity's client OMV AG successfully completed a capital increase of 27,272,272 new ordinary shares by way of a 1 for 11 rights issue at €27.50 per share raising net proceeds of €725mlion on 7 June 2011. Based in Austria, OMV is one of Europe's leading vertically integrated Oil & Gas groups, primarily active in Central and Southern Eastern Europe with 2010 sales of €23.3 billion. Following acquisitions of Turkish petrol retailer Petrol Ofisi for €1 billion at the end of 2010 and the E&P assets of Pioneer Natural Resources in Tunisia for US$800mlion in January 2011, the Company's gearing had increased significantly above its target level.

Canaccord Genuity was appointed by OMV in November 2010 to act as independent financial advisor on transaction timing and structure, selection of the banking group as well as negotiation of pricing and other terms of the offering. The appointment was a follow-on mandate from OMV, having acted for them in 2004, when the Company raised c.€660mlion in equity and €550mlion through a convertible bond, and again in 2009 when the Company refinanced its €1.5 billion RCF facilities. Separately, Canaccord Genuity advised OMV on the issue a €750mlion hybrid bond, which was successfully placed on 25 May 2011.