Electrica stock exchange trading passes 2.6 M euros, investors making 6-7pct in profits

The small investors in the initial public offering of Romanian power producer Electrica stocks were rushing into selling the shares on Friday, the very first day these have been traded on the Bucharest Stock Exchange, and they have managed gaining profits at 6-7 percent as compared to the price for which they had purchased Electrica shares in the IPO a few days ago.

Forty-five minutes into the Stock Exchange session on Friday, more than 960 transactions in Electrica shares were recorded totalling 11.5 million lei (2.6 million euros).

The shares were traded at prices ranging between 11.05 lei and 11.18 lei per share, thus earning 6 to 7 percent profit to those having purchased the stocks at the public offering at a discount price of 10.45 lei per share.

Electrica's initial public offering on June 25 was the biggest ever on the Romanian stock exchange and it drew 1.95 billion lei (444.3 million euros) from the institutional and retail investors.

As many as 11,613 investors bought 177.188 million Electrica shares at the public offering.AGERPRES