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Photo by Vladimir Ivanovo (V)
State shares of Ignitis Group, which implemented the historic initial public offering (IPO), launched Wednesday morning.
On the Vilnius Stock Exchange, the issuer’s short-term IGN1L shares started trading 0% change, at a cost of € 22.5 each, and soon fell slightly. In the first minutes, more than 0.4 million shares were traded. EUR.
International Certificates of Deposit (TDP) listed in London started trading at a price of 22 euros.
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Local capital market professionals interviewed tonight expect a positive start to trading.
If the negotiation of the shares of the state energy company turns in a very unfavorable direction, with the reconstruction of 45 million. The euro stands for Swedbank, which acts as a stabilizer and can make purchases before the trading month to stabilize the value at a level higher than the market price that would otherwise prevail.
The stabilization executor has the right to acquire no more than 10% of the shares, starting at 6,319,389, and 10% of TDP, starting at 13,680,611. The executor of the stabilization may buy the shares at a price not exceeding 22 IP Eur.
As already announced, the Ignitis Group distributed 20 million. shares (nominal value 22.33 euros) at the minimum price of the IPO (22.5 euros), attracting 450 million euros. EUR.
The shares issued immediately after withdrawal will represent 26.9% of the total issued share capital of the company.
The Ministry of Finance, which exercises the rights of the main shareholder, will manage 73.1% of the trading flow after the withdrawal. If stabilization transactions take place and the company purchases shares from the stabilization executor, the stake of the main shareholder could increase to slightly 75.0%.
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