0.84% of Teraplast subscribed in 3 days

Some 0.84 percent of the initial public offering (IPO) by Teraplast Bistrita PVC pipe producer was subscribed in three days after the IPO was launched.

Investors subscribed for 0.245 million shares, after subscription in Tuesday’s session of 0.174 mln shares. The company has put 49.64 million shares up for sale, making up 20 percent of the share capital, at a price band of RON 1-1.4.

The final price will be determined based on the level of subscription, of at least three times. In the event that the offer is not subscribed at least three times, the final price will be set at the lowest listing price (RON 1).

To date, 64.5 percent of total shares requested by investors were subscribed at a price of RON 1 per share, while 33.7 percent of shares were subscribed at the top price of RON 1.4 per unit. The company’s IPO will end on 17 April. Shares will be accompanied by a right of allocation, to be followed by their trading on BVB on 30 April, according to the offer mediator.