Austria's largest construction firm Strabag confirmed plans for its Initial Public Offering in October. Strabag-chief executive Hans Peter Haselsteiner told the newspaper Wirtschaftsblatt on Thursday plans would be announced on October 8, reported dpa. Strabag will be listed on the Vienna stock exchange on October 19, with the issue price determined at this date. Haselsteiner expects a price of around 46 euros per share. He expected the original share to be oversubscribed three times, Haselsteiner told Austrian media. Strabag had considered delaying its IPO, originally planned for May, even further due to the US credit crisis, Austrian media said. Strabag had announced its intentions to go public after Russian billionaire Oleg Deripaska acquired a 25-per-cent share in the company.
