Sphera Franchise Group shares, up 16% in the first day of trading on Bucharest bourse

The shares of Sphera Franchise Group (BVB ticker SPG) started trading on the Bucharest Stock Exchange yesterday bringing significant gains to the investors who invested in the company’s initial public offering (IPO), which ended last week. The shares closed the day at a price of RON 33.6, up almost 16% over the IPO price of RON 29. The trading value reached RON 24 million (EUR 5.2 million). The company was thus valued at RON 1.3 billion (EUR 282 million). Sphera Franchise Group is one of the biggest restaurant companies in Romania. It owns the KFC, Pizza Hut, Pizza Hut Delivery and Taco Bell franchises on the local market. The company plans to double its number of restaurants in the next five years, to 240 units, 34 of which will be located in Northern Italy. editor@romania-insider.com