Cris-Tim IPO heavily oversubscribed on retail segment
After the IPO conducted by Romanian cold-cuts producer Cris-Tim was heavily oversubscribed on the retail segment during the first days (when a discount applied), the institutional investors have already covered their segment with offers -…
iulian ernst · Journalist
· Updated · 1 min read
After the IPO conducted by Romanian cold-cuts producer Cris-Tim was heavily oversubscribed on the retail segment during the first days (when a discount applied), the institutional investors have already covered their segment with offers - while the price has still not increased significantly above the lower-end bound, according to Profit.ro.
Ziarul Financiar revealed an oversubscription rate of approximately 4,147% at the end of the four discount days for individual investors, which means that for every 1,000 shares subscribed, a retail investor will receive - depending on how the situation looks at the moment - approximately 23 shares.
A message from the brokerage consortium regarding the coverage of the institutional investors' tranche of the IPO came on the afternoon of October 22 to the investment funds that subscribed shares, according to Profit.ro sources from the capital market. It was the first sign of life in the opaque tranche that covers 85% of the total 27.1 million shares offered for sale. The perception is that not all players have listed yet and the price has not yet migrated to the upper part of the price corridor.
The offer is expected to accelerate next week, when the subscription phase is scheduled to end on October 29.
(Photo source: Facebook/Cris-Tim)
