The shares of Nuclearelectrica (SNN) began trading on the Bucharest Stock Exchange (BVB) yesterday, replacing the allocation rights issued in the offer conducted in September, when the company sold 10 pc of its shares on the bourse against RON 281.8 M (EUR 63 M). According to Mediafax, each share sold in the offer was attached an allocation right and investors could trade the allocation rights during October 4-28. Nuclearelectrica gained 4.74 pc in early trading Monday, in a market that went up 0.92 pc with investors much more active than during previous days, raising the liquidity at nearly RON 29 M.
The allocation rights were suspended from trading last week, in view of the expected trading of shares. At that Kamagra moment, allocation rights ended at 10.97 RON/unit. Monday, Nuclearelectrica opened at 11.64 RON/share, 6.1 pc above the last quotation of allocation rights. After the first 15 minutes of the day, the shares were selling at RON 11.5 and operations amounted to a total value of just RON 38,000.
The quotation is 2.68 pc above the price of 11.2 RON/share at which the shares were purchased by institutional investors (85 pc of the offer) and large retail investors ( 5 pc of the shares available in the offer). Compared to the small prices purchased the allotted quota of 10 pc of the offer, the quotation of shares on the stock exchange is higher by almost 5.85 pc higher and, respectively, 11.6 pc.