EADS has launched an investor roadshow ahead of the flotation of around 145 million shares on the Paris, Frankfurt and Madrid stock exchanges on 10 July.
The Dutch registered company, being formed through the merger of DaimlerChrysler Aerospace, Aerospatiale Matra and CASA of Spain, will start life with revenues of €22 billion ($20 billion) and some 92,000 employees.
Aerospatiale-Matra shareholders will receive EADS shares on a one-for-one basis, while 93 million new shares will be issued providing a capital increase of around €3.5 billion.
The French Government, Lagardère, BNP Paribas and AXA are selling a combined 52.3 million Aerospatiale shares as part of the offer. The maximum price of the shares will be announced on 3 July.
EADS co-chief executive designate Rainer Hertrich says the creation of EADS will yield annual cost savings of €500 million by 2004, more than half of which will flow from the restructuring of Airbus. Earnings growth of 10% per annum is being targeted for 2004 onwards.
Source: Flight International
