- Statements by representatives of the oldest and youngest listed companies
- OeNB Governor Robert Holzmann presents facsimile of the first traded share
- Vienna Stock exchange CEO Boschan: Ensuring prosperity for the next generation with a strong capital market
(Vienna) On Thursday, 29 April 2021, the Oesterreichische Nationalbank and the Vienna Stock Exchange invited representatives of the youngest and oldest listed companies to a roundtable discussion. With over 150 years of continuous listing, PORR AG represents the oldest company on the Viennese stock market today. Frequentis AG and Marinomed Biotech AG have been listed since 2019. National Bank Governor Holzmann, Vienna Stock Exchange CEO Boschan and board members of the three listed companies agree that more equity capital can make a decisive contribution to finding a way out of the crisis. At the Oesterreichische Nationalbank, which was once the first stock to be listed on the Vienna Stock Exchange, the entrepreneurs share their lessons learned and success stories on the way to the stock market. All participants see financial education and self-initiative as the basis for more active investors and entrepreneurs of tomorrow.
Robert Holzmann, Governor of the Oesterreichische Nationalbank, begins by congratulating the Vienna Stock Exchange on its 250th anniversary and gifts a facsimile of the first share traded. Austria’s history of stock trading began in 1818 with the Oesterreichische Nationalbank. The Governor thanks the "sister organization" for the centuries spent together: "It is impossible to imagine our modern society without stock corporations. They ensure that risk for global undertakings is spread over many shoulders. Listed shares enable everyone to participate in corporate developments. If there is one thing that I, as an economist, can wish for Austria to overcome this crisis, it is an increasing awareness of shares."
Christoph Boschan says: "To get out of crisis mode and into shape for the future, the largest lever possible is needed. Only equity can finance innovation and technological progress. If the government makes investing more attractive, as announced, more private capital can be activated and made available for society and the economy." The latest statistics from the Oesterreichische Nationalbank on the growing wealth of Austrians show just how much potential is currently untapped in Austria. 40 percent of this (EUR 310 billion) is parked in cash or overnight deposits without interest.
The stock market stories of Frequentis AG and Marinomed Biotech AG illustrate how important innovations are driven by equity. Eva Prieschl-Grassauer, CSO of Marinomed Biotech AG says: "The IPO was a boost for research and development. Carragelose® can now be used as an important compound in COVID-19 prevention." For Norbert Haslacher, CEO Frequentis AG, the step to the stock exchange was a milestone for the successful family-owned company, which is in great demand worldwide as a specialist for communication and information systems for control centers with safety-critical tasks. Haslacher emphasizes: "We supply future-oriented technology to around 150 countries around the world. The stock market listing makes us more transparent and professional, and signals size and stability on the world market. This supports us in our further growth."
Shareholders have been able to build on PORR for more than 150 years. The company has been listed on the Vienna Stock Exchange since 1869 and shows how successful the path to the stock exchange can be. PORR has developed into a leading construction group and offers construction services ranging from building construction and civil engineering to road construction or tunneling. In addition to Austria as one of the market leaders, PORR is strongly anchored in the center of Europe. CEO Karl-Heinz Strauss comments, "For PORR, the Vienna Stock Exchange was and is the gateway to the national and international capital market, whether it was during the initial listing in 1869, numerous issues of equity and debt capital or future corporate development."
Christoph Boschan concludes the discussion: "A strong capital market ensures prosperity for the next generation of our children and provides the capital for entrepreneurs. Once again, it will show: Economies with developed capital markets benefit from faster and more sustainable growth. 'Shaping capital markets instead of just managing them' must become the guiding principle."
250 Years Wiener Boerse - Future Forum
The discussion panel " Becoming a Global Player through the Stock Market: success stories of the oldest and youngest Austrian Listed Companies" can be viewed (in German) online in full length. It was the third edition of the Future Forum. In its 250th anniversary year, the Vienna Stock Exchange regularly invites experts to take a look at past and future developments. Next week, the series will be continued under the title "Innovation made in Austria - financing industry of the future".
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