Hochtief not planning to launch another IPO
Germany’s Hochtief airport unit head, Reiner Schrankler, stated the company has funding to meet payments and has no immediate plans to return to equity markets, after cancelling plans to launch an IPO for its concessions unit last year (Reuters, 18-Mar-2010). Mr Schrankler stated the carrier already has the capital required to pay a second instalment of EUR200 million for Budapest Airport, and up to EUR400 million required to fund equity commitments for pipeline projects. Meanwhile, three major projects the company is interested in Lisbon, Prague and Crete airports, will not reach financial close in 2010, further relieving funding pressure. Hochtief now plans to focus on India for new investments, while also looking to North America. China will not be considered.