June 13, 2014 / 11:51 AM / 4 years ago

Austria's FACC IPO already oversubscribed -sources

VIENNA, June 13 (Reuters) - The initial public offering of Austrian aviation parts group FACC, worth up to 235 million euros ($320 million), is already oversubscribed within its price range, two financial sources with knowledge of the matter said on Friday.

“There is more demand than supply,” one source said, adding that the price at which it was subscribed was not only at the bottom of the 8-11 euro range set in Austria’s biggest stock market listing in more than three years.

A second financial source said the offer had been well received both locally and internationally after a week on roadshow. ($1 = 0.7345 Euros) (Reporting by Angelika Gruber; Writing by Georgina Prodhan; Editing by Michael Shields)

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