Rovio’s highly-anticipated initial public offering may have been heavily over-subscribed, but the profits it generated for small investors had all but melted away before the end of trading on 29 September, reports Kauppalehti.
Shares in the games-first entertainment studio decreased several percentage points in value until an intervention by one of the financial institutions arranging the listing, Danske Bank. The shares eventually closed at only slightly above the listing price of 11.50 euros.
Kauppalehti on Friday reminded that the relatively high price of listing ensured the public offering was very profitable for old shareholders.
Small investors, however, were likely disappointed with the offering after becoming recently accustomed to raking in profits from every new listing on the Helsinki Stock Exchange. Rovio’s listing, in fact, was the first one in recent months that did not generate solid quick profits for small investors, according to the commerce-oriented newspaper.
Aleksi Teivainen – HT
Photo: Emmi Korhonen – Lehtikuva
Source: Uusi Suomi