Ital. Öl-IPO Saras zeichnen? (Seite 2)

[PennyStocks]

Die Volksbanken und Raiffeisenbanken nehmen Aufträge an, auch übers Brokerage!

Zeichnest Du?

[spiderbert]

Kann man die denn bei deutschen Banken zeichnen

[PennyStocks]

Für den Titel spricht meiner Meinung nach folgende Faktoren:

+ Öl-Titel sind in aller Munde (siehe Catoil)
+ Ölwerte sind hochprofitabel (wie eben auch Saras)
+ dividendenstarke Titel sind gefragt (siehe unten)
+ Angebot schon 2,5fach überzeichnet
+ Fonds werden sich eindecken, da goßkapitalisierter Wert


27.04.2006 15:16
Italy's oil refiner Saras to pay out 40-60 pct of net in divs post-IPO
MILAN (AFX) - Officials from Italy's Saras SpA oil refining company said at a presentation for its initial public offering that the company intends to pay out 40-60 pct of its net profit in dividends.

Saras is valued at 4.978-5.792 bln eur in the IPO, in which the Moratti family is selling a 36.3 pct stake -- or 40 pct including a greenshoe option -- in an offer to Italian retail and institutional investors.

Saras paid out 170 mln eur in dividends from 2005's 293 mln net profit, after paying 140 mln out of 2004's net of 199 mln.

Moratti said the IPO will allow the company to remain 'head of class' in the industry and to remain independent and family-run. The Moratti family intends to keep 60 pct control of the company, he said.

An official from Morgan Stanley, a joint book-runner for the IPO, said interest among retail investors was higher than expected yesterday, the first day of the offer.

Foreign institutions are expected to take up about two-thirds of the overall IPO, he said, adding there are few companies of Saras's type in Europe and significant investor interest.

Looking ahead, managing director Paolo Alfani said he expects 2006 refining margins to be between 5-6 usd/barrel, in line with those of 2005, but declined to make a forecast for 2006 results.

Commenting on the oil price, he said on a fundamental basis oil should trade this year at around 60-65 usd/barrel, reiterating recent comments in which he said today's price reflects political factors.

Saras also gave further details of the company's 500 mln eur 2006-2008 investment plan, chiefly aimed at boosting production capacity and efficiency at its refining plant near Cagliari, Sardinia.

Production capacity will rise to 15.1 mln tonnes in 2009, from 14.4 mln in 2005, with all the additional capacity in diesel fuel production.

By 2009, the plant will be able to refine heavier crude oil, which costs less, and do so at higher margins, he said.

Further investments will be made in a wind-power site generating 72 MW electricity, which he said was completed earlier this year and will contribute 30 mln eur in EBITDA this year, against nil in 2005.

Discussing longer term investments, Alfani said Saras has no current plans to build an LNG regasification plant despite market rumours to that effect.

He said further electricity plants on the Cagliari refining site depend on external factors, including the construction of an electricity power line between Sardinia and the mainland, and the construction of a gas pipeline from Algeria via Sardinia to the mainland.

Saras is keen to invest in projects that create value alongside its core refining business, company officials said, but chairman Gian-Marco Moratti said there are no plans for acquisitions.

Alfani said Saras recently acquired 37 petrol stations in Spain, in the area facing Sardinia, for 32 mln eur.

These stations each sell 4 mln litres of fuel per year, nearly double the average sold by petrol stations in Spain, he said.

Saras has not filed an expression of interest in acquiring the Tamoil petrol station chain in Italy, which is owned by the Libyan state, he said, rejecting recent analyst comments to that effect.

[e-mail]
AFX News Limited

[PennyStocks]

Hier ein paar weitere Infos, leider nur auf italienisch...

Saras
S.S. Sulcitana n.195 Km.19
Sarroch CA - 09018
Italia


Tel. [phone] [phone]
Fax [phone]


www.saras.it
[e-mail]


Informazioni su Ipo
status Ammessa a quotazione
data definizione prezzo 16/05/2006
data offerta 26/04 - 12/05/2006
nazione Italia
mercato di quotazione MTA
data inizio negoziazioni 18/05/2006
range di prezzo (Euro) 5.25 - 6.50
flottante previsto 39.96




Descrizione Attività
settore : Minerali/Metallurgici/Petroliferi

Il Gruppo Saras, la cui attività ha origine nel 1962 per iniziativa di Angelo Moratti, opera nel settore energetico ed è uno dei principali operatori italiani ed europei nella raffinazione del petrolio grezzo. Le sue aree di attività sono:

- la raffinazione di petrolio grezzo e la vendita e distribuzione di una vasta gamma di prodotti petroliferi (tra cui benzina, gasolio, nafta, diesel, Gpl, carburanti per l'aviazione) sul mercato domestico e internazionale;

- la produzione e vendita di energia elettrica attraverso le joint venture Sarlux e Parchi Eolici Ulassai;

- l'offerta di servizi di ingegneria industriale e ricerca scientifica per i settori petrolifero, petrolchimico, dell'energia e dell'ambiente; servizi informatici.

Il Gruppo conta 1.600 dipendenti e al 31/12/05 presenta un valore dei ricavi da vendite e prestazioni al netto delle accise pari a circa 5,1 miliardi di euro, un margine operativo lordo di 570 milioni di euro ed un utile netto di 293 milioni di euro. Saras S.p.A. è controllata di diritto dalla Angelo Moratti S.a.p.a.

Saras svolge la propria attività di raffinazione mediante la raffineria di Sarroch (Cagliari), sulla costa meridionale della Sardegna, la più grande raffineria del Mediterraneo per capacità produttiva secondo l'Oil & Gas Journal, uno dei sei supersite dell'Europa occidentale ed una delle raffinerie a più elevata complessità secondo Wood Mackenzie.


ipo focus : IPO Saras già interamente sottoscritta
Al via ieri l'IPO di Saras
Saras: ipo al via il 26 aprile, range tra 5,25-6,5 euro
Saras: ok a quotazione da Borsa Italiana
Saras in borsa entro giugno




Collocatori
global coordinator JP Morgan
sponsor Banca Caboto
Wie ich von meiner Bank erfahren habe, ist ABN Amro auch im Konsortium. Zeichnung ber Volks- u. Raiffeisenbanken möglich!

Consulenti
revisori PriceWaterhouseCoopers
pr advisor Rowland




Azionisti
Angelo Moratti Sapa 66.67%
Gian Marco Moratti 16.67%
Massimo Moratti 16.67%


Management
Gianmarco Moratti Presidente
Massimo Moratti Amministratore Delegato
Paolo Alfani Vice Presidente
Angelo Gino Moratti Vice Presidente
Gabriele Previati Consigliere
Angelomario Moratti Consigliere
Mario Greco Consigliere
Gilberto Callera Consigliere

[PennyStocks]

Italy's Saras IPO Seen Fully Subscribed On Friday -Source
Dow Jones
.


ROME -(Dow Jones)- Italian oil company Saras' initial public offering that kicked off Wednesday is likely to be "fully subscribed" Friday, a financial source close to the situation told Dow Jones Newswires Thursday.


Saras is selling a maximum of 345 million ordinary shares, or 36.3% of the company's share capital, along with an additional 35 million shares that may be offered as a greenshoe option. The offer period ends May 12 and Saras' shares will start trading on the Milan Stock Exchange May 18.


According to financial sources, Saras' IPO is the biggest ever globally in the refining sector and among the biggest in Europe since 2000 along with privatizations such as that of the French energy company Electricite de France ( 1024251.FR).


If shares are priced at the high end of the EUR6.5 range, the company will raise up to EUR2.24 billion.


"We decided to go public to remain one of the main players in the market, rather than becoming junior partners to bigger groups", said cofounder Gian Marco Moratti, during a presentation Thursday, adding that the IPO funds will be reinvested in the company.


"I'm an oilman at heart," he said, perhaps ironically alluding to football team Internazionale FC, or Inter, which is owned by his brother Massimo Moratti, "and we will never reduce our 60% controlling stake in the company".


JP Morgan is acting as global coordinator of the offer with Banca Caboto. JP Morgan and Morgan Stanley (MS) are joint bookrunners.


"In my past experience, I've never seen an IPO with such a concentration of positive factors concurring," Galeazzo Pecori Giraldi, deputy chairman of Morgan Stanley Europe said to Mf-Dow Jones. "First, the excitement of the oil market; secondly company's fundamentals and at last management quality", he added.


-By Michele Baccinelli, Dow Jones Newswires; [phone]; [e-mail]


(END) Dow Jones Newswires 04-27-061051ET Copyright (c) 2006 Dow Jones & Company, Inc.


Copyright (C) 2006 Dow Jones & Company, Inc. All Rights Reserved.
2006-04-27 10:51 -04