Poland’s power group Tauron made a debut on the Warsaw Stock Exchange (WSE). The share price at the opening was PLN 5.13. The offer concerns 821,033,422 shares. Institutional investors took 615,775,67 shares while private investors – 205,258,355 shares.
Tauron shares were distributed among individual investors via WSE on Monday. Each investor received 934 shares in the company. Individual investor demand exceeded the supply by approximately 30% therefore a reduction was necessary. About two-third of the stake earmarked for institutional investors was acquired by Polish entities, particularly retirement funds; the remaining one-third of shares went to foreign investors, wnp.pl reports.
Polish Treasury Minister Aleksander Grad called Tauron’s debut a success on Wednesday. He underlined that the share price at the opening of the session on the first day of trading proves that the price was set at the right level. “I particularly appreciate the fact that 230,000 Poles purchased shares of this company. I am happy that Polish citizens are increasing better educated in business-related matters. They know it does not pay off to sell shares on the first day of trading” Grad was quoted as saying by Gazeta Wyborcza.
WSE President Ludwik Sobolewski said that Tauron debut is valuable for the capital market.
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