The Postbank share and the conversion bond were placed successfully. The share was oversubscribed by a factor of two and a half. It was very well received by German and international institutional investors. Over 20 percent of the volume was allocated to retail investors. After the close of bookbuilding, an issue price of EUR 28.50 was determined.

The stock market capitalization is thus over EUR 4.67 billion. On the basis of the share price determined and with full utilization of the greenshoe, the issue volume amounts to approximately EUR 1.55 billion. In Germany the Postbank share was offered as part of a public offer. In addition, international institutional investors worldwide were addressed in the context of a private placement

At the same time, a conversion bond with a total volume EUR 0.98 billion for 27.5 million Postbank shares was placed with institutional investors. The conversion bond has a time to maturity of three years and a coupon of 2.65 percent. The conversion premium is 38 percent.

The Chairman of Deutsche Post AG Board of Management, Dr. Klaus Zumwinkel, expressed his satisfaction: “We are pleased that we gained investors for Postbank worldwide in a difficult market environment with our innovative transaction structure. With the successful IPO we have made the value of the Postbank visible, at the same time generating proceeds of EUR 2.6 billion. The whole Deutsche Post World Net Group benefits from this, and thus also Deutsche Post shareholders. This was evidenced by the positive market reaction when the new structure was announced.”

Prof. Wulf von Schimmelmann, Chairman of the Postbank AG Management Board, was also satisfied about the successful placement: “We convinced German and international investors regarding the assets and the growth potential of our company. And we will demonstrate our new shareholders our performance as the largest retail bank in Germany.”

The demand for the total of 54.5 million shares of the placement (including a greenshoe of up to approximately 4.5 million shares) from the holdings of Deutsche Postbank Beteiligungs GmbH totaled over 143 million shares. Full use was taken of the greenshoe. The conversion bond with an order volume of EUR 4.7 billion was more than three times oversubscribed.

Private investors subscribed to a total of 22.9 million shares. The share allocation process was implemented according to uniform criteria across all the syndicate banks and their associated institutes on the basis of the “Principles for the Allocation of Share Issuers to Private Investors”. All private investors making a subscription received an allocation on their buy orders. The following applies for private investors:

• Preferential private investors who have a securities account at Postbank receive a full allocation of the shares ordered.
• Preferential private investors who were also Deutsche Post AG shareholders at the time of subscription receive a full allocation of up to one hundred shares ordered. Any order level exceeding this is allocated at 60 percent.
• Other private investors receive a full allocation for up to 60 shares ordered. Any order level exceeding this is allocated at 20 percent.

In this way, over 20 percent of the shares offered for subscription were placed with private investors in Germany. Institutional investors in Germany were allocated approximately 28 percent of the issue volume, while outside Germany approximately 48 percent of the shares offered for subscription were placed with institutional investors in the context of private placements.

On June 12, Postbank had announced that over 60 percent of Deutsche Postbank AG employees and the branches had subscribed to shares as part of a special employee participation model. There was a full allocation on employee orders for a total share of approximately 1.7 million shares.

The entire issue proceeds from the sale of Postbank shares went to the Group parent company, Deutsche Post. It is to be deployed for the strategic development of the Group. The Postbank IPO is the largest initial public offering in Germany since the floatation of Deutsche Post AG in November 2000 and is one of the largest IPOs ever on the German capital market. As of now, Postbank shares can be traded at the Frankfurt Stock Exchange and at all German regional exchanges under the identification code DPB.