Prague, 21st June 2022 – M&T 1997, a.s. successfully completed its IPO today. Ivo Ulich, the majority shareholder of M&T 1997, sold his shares at a price of CZK 30,000 per share. Investor interest was huge and the issue was oversubscribed by 97% at the chosen price. Trading in the company’s shares will commence on June 27, 2022, at a subscription price of CZK 30,000 and a minimum order of 2 units.
Ivo Ulich, majority shareholder of M&T 1997, a.s. (ISIN: CZ0009011714), a company engaged in the production of designer door hardware, today successfully sold his shares in a total of 1,440 units at a price of CZK 30,000 within the price range of CZK 25,000 – 35,000 per share. The value of the company after the subscription amounts to CZK 384,000,000. Ivo Ulich received CZK 43,200,000 from investors.
“Another very successful IPO on the START market in such a short period of time confirms investor interest in Czech companies. Although it is the most expensive share on the Prague Stock Exchange so far, the interest in it was enormous,” says Petr Koblic, CEO of the Prague Stock Exchange.
Due to the great interest in the subscription, some investors had to be cut back in the allocation (allocation of subscribed shares to individual subscribers), which is quite standard in such successful subscriptions.
Trading in the new issue will commence on 27 June 2022 in the regular daily auction on the START market. Auctions of issues on the START market take place daily from 9:00 to 12:30.