The first Slovak company has successfully entered the Start market

Gevorkyan a.s. has several firsts on the Prague Stock Exchange, having successfully subscribed for its shares on the Start market today. Not only is it the first foreign company to list on this market, but it is also the largest issue. A total of CZK 727,334,400 has been raised from investors. Gevorkyan's shares will start trading on the Start market on July 1 at the subscription price CZK 248.

The initial public offering (IPO) of Gevorkyan a.s. (ISIN SK1000025322) was completed today. Gevorkyan successfully subscribed for a total of 2,732,800 new shares at a price at the lower end of the price range. The value of the company after the subscription (post money valuation) is approximately CZK 4,131 million. The company received an amount of CZK 677,734,400 from investors. At the same time, the existing shareholders sold 200,000 shares at the same price, i.e. raised CZK 49,600,000.

"I am delighted that the first foreign issue is coming to the Start market. It is also evident that a quality issue will find its investors even in the most IPO-unfriendly times. Moreover, this is the largest issue on the Start market. This issue is almost two and a half times larger than the largest Pilulka issue to date," says Petr Koblic, CEO of the Prague Stock Exchange.

Trading in the new issue will start on 1 July in the regular daily auction on the Start market. The auction of issues on the Start market takes place daily from 9:00 to 12:30.

A total of 8 stock titles with a total market capitalization of approximately CZK 5.7 billion are currently traded on the Start market in daily auctions.

Information on the Start market is available at www.pxstart.cz.   

SK1000025322