The leasing company Europlan made an initial public offering at the upper end of the price range. This is the first public offering of shares by a leasing company in Russia. At the beginning of operations, Europlan’s market capitalization amounted to 105 billion rubles.
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Russia’s largest private leasing company, Europlan, held an initial public offering on the Moscow Stock Exchange and raised 13.1 billion rubles. The company placed shares at 875 rubles per share, which is the upper limit of the price range, Europlan said in a statement.
“More than 150 thousand applications were received as part of the IPO. Aggregate investor demand many times exceeded supply at the upper end of the price range,” the company noted.
At the beginning of trading, Europlan’s market capitalization amounted to 105 billion rubles. Trading in the company’s shares began with rapid growth: in the first hour, Europlan quotes rose by 22%, but then the growth slowed down to 14%.
Before going public, Europlan had the status of the largest private leasing company in Russia. This is the first IPO of a leasing company on the Russian stock market.
Author:
Kirill Bilyk
Source: RB
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