Exchange, Financial Services, Lithuania

International Internet Magazine. Baltic States news & analytics Thursday, 06.10.2022, 11:13

Expert hails Lithuanian Ignitis Grupe’s first day of trading as unequivocal success

BC, Vilnius, 08.10.2020.Print version
The first day of trading in shares of Lithuania's state-owned energy group Ignitis Grupe (Ignitis Group) on the Nasdaq Vilnius Stock Exchange, which saw the company’s share turnover reach a whopping nearly 5.7 million euros, was an unequivocal success, a financial analyst has said LETA/BNS.

More than 259,000 shares of Ignitis Grupe changed hands in the first day of trading generating a turnover of 5.693 mln euros. The company closed at 22.3 euros per share, which was slightly below the IPO price of 22.5 euros.

Huge interest in the company’s shares and its share turnover showed unequivocal success of the first day of trading, Marius Dubnikovas said.

“The first day of trading was an unequivocal success. The worst case for a company would be non-existent or sluggish trade in its shares, in particular during the first days of trading,” he told.

According to him, fluctuations in the company’s stock price were minor, which was expected given that the IPO price was sufficiently low.

Trading was likely to remain active in the beginning and would calm down later, once investors achieved their goals, the analyst added.

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