Despite the volatility in the TMT sector, NCB Stockbrokers is expecting to attract significant interest from investors in the latest round of Deutsche Telekom shares to be offered for sale.
Some 3,000 Irish shareholders bought Deutsche Telekom shares in the second offering in May 1999 at €37.50 (£29.53) per share. The shares rose to a high of €100 at one point but have fallen back to around €55. The latest offering of 200 million shares aims to raise €11 billion (£8.7 billion).
Investors who subscribe for the shares are being offered an incentive programme of price discounts and bonuses. This includes a price discount of up to 5 per cent on the trading price of the Deutsche Telekom shares on May 29th. The final price discount will be announced on May 30th. In addition, investors who buy shares and hold their shares until December 31st, 2001, will be eligible to receive one bonus share for every 10 held.
To qualify, European investors have to buy a minimum of 25 shares while there is no maximum order level. Irish investors who have held onto their Deutsche Telekom shares will be entitled to a one-for-10 bonus in August.
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