The results of the auction on the START market
Today, it was the first successful trading day of the existing five companies on the START market of the Prague Stock Exchange in 2019. All START companies have received orders from investors, however, only Primoco UAV shares have been traded and as a result their price increased by 2.4% in comparison to the initial IPO price.
This year, the first auction day on the START market took place in a positive spirit with a strong interest from investors. We have seen both offer and bid orders for all existing companies in our order book. The results of the first trading day have been more than encouraging based on the current economic situation on global markets. No share prices of the START companies have declined in their values and 500 shares of Primoco UAV have been traded for CZK 256 per share. This is an increase in a share price of 2.4% in comparison to the initial IPO price which was CZK 250 per share in October 2018. This means that market capitalisation of Primoco UAV has increased from CZK 1.086 billion to CZK 1.112 billion.
From the beginning of this year shares on the START market are traded monthly on the second Wednesday of each month. The only exception is the fourth Wednesday in May. Companies can subscribe new shares to the START market on different three dates (so-called START Days) that have been set on 21st May, 8th October and 10th December in 2019.