mmcité successfully completed its IPO today. Investor interest was huge and the issue was oversubscribed by 128.24%. Trading in mmcité shares will commence on 1 August at an underwriting price of CZK 160.
mmcité (ISIN CZ0005138826), a leading manufacturer of urban furnishings, has successfully subscribed for a total of 1,000,000 shares at a price of CZK 160 within a price range of CZK 160 – 200 per share. The company received an amount of CZK 160 mil from investors. mmcité’s IPO attracted considerable attention from institutional investors and the public. The order book was already filled during the ninth day of the fourteen days during which the subscription took place. Subsequently, the shares were oversubscribed. Due to the high level of interest in the subscription, some investors had to be cut back as part of the allocation process, which is quite standard in such successful subscriptions. Funds from the IPO will be used by mmcité to expand its production capacity.
“I would like to congratulate mmcité on its very successful IPO on the Prague Stock Exchange. I am glad that we have an innovative company on the stock exchange, which has a major influence on the creation of modern and attractive public spaces, not only in the Czech Republic, but also abroad,” says the CEO of the Prague Stock Exchange, Petr Koblic.
The shares of mmcité (ticker MMCTE.PR) will start trading on 1 August on the Prague Stock Exchange’s START market in auction mode. From 1 September 2023, all issues on the START market (including mmcité) will be transferred to the continuous trading mode, i.e. they will be traded in the same way as stock issues from other Prague Stock Exchange markets. Information about the START market is available on the website www.pxstart.cz.