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Newag shares soar on first day of trading

6th December 2013
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Shares of train and tram producer Newag successfully debuted on the Warsaw Stock Exchange on Thursday. Upon opening, the stock price jumped by 20.8 percent to zł.22.95.

Newag's initial public offering consisted of 19.56 million existing shares (48.4 percent of the company's stock), sold by Zbigniew Jakubas, Multico SKA, Zbigniew Konieczek, Wiesław Piwowar and Bogdan Borek.

Individual investors bought 2 million shares at zł.19 apiece and institutional investors subscribed to 17.56 million shares at zł.20.50 apiece.

Just before the WSE debut, Newag announced that it signed a contract to deliver trains to Italy over the next four years. The contract value is €40 million.

 

Poland A.M.


From Warsaw Business Journal


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