The chemical distributing firm Delko debuted on the Warsaw Stock Exchange today, gaining eleven percent in share value almost immediately.
The shares IPO started at 9.50 zloty (2.30 euro) and were trading at 14.25 zloty (about 3.46 euro) after the first few hours on the market.
Delko is the eighth firm to debut on the Warsaw Bourse this year. The financial advisory firm Pricewaterhouse Coopers issued a report entitled IPO Watch Europe which showed, after the second quarter of 2009, that the Warsaw Stock Exchange has turned a higher profit in shares (about 126 million euro) than most bourses around Europe. Only the London Stock Exchange, with a value of 258 million euro) exceeds it.
The report also concludes that the Warsaw Stock Exchange has debuted the most companies on the continent this year, with seven companies going public, as compared to the London market debuting three. (mmj)