Listings|The stock of Framery, known for its phone booths, opened with an increase of more than seven percent on the first day of trading.
The summary is made by artificial intelligence and checked by a human.
On Tuesday, the stock of Framery Group, which manufactures soundproof phone booths and workspaces, rose more than seven percent of its subscription price on the Helsinki Stock Exchange.
The company’s IPO was oversubscribed many times over, even though it only lasted four days.
The market value of Framery in the listing came to a good six hundred and thirty million euros, which makes it the largest listing on the Helsinki Stock Exchange this year.
In investors Framery Group’s stock exchange campaign, which attracted great interest, started on Tuesday with a clear rise.
The shares of Framery, which manufactures soundproof phone booths and workspaces, rose to 8.60 euros on Tuesday, immediately after the opening of the Helsinki Stock Exchange. It is 7.5 percent more than the share’s subscription price of EUR 8.00 in the initial public offering.
During two hours of trading, the share had reached a high of 8.91 euros and a low of 8.15 euros.
Framery shares are initially traded on the so-called pre-list. The share will move to the main list of the stock exchange on Thursday.
Framery’s soundproof phone booths and workspaces are used a lot in open offices, so that, for example, participating in remote meetings or talking on the phone would not disturb colleagues.
Framery the duration of the initial public offering was exceptionally short. The auction started on Tuesday of last week, and it was already suspended on Friday. Despite the short time, the anti was oversubscribed many times over.
Thanks to the IPO, the number of Framery shareholders increased to more than 10,000 shareholders, of which approximately 280 are Framery employees.
Framery will receive gross assets of EUR 20.0 million from the offering. In addition, the company’s owners sold their shares for approximately EUR 210 million.
Framery the market value in the listing came to a good 630 million euros.
In terms of market value, the listing is the largest of the current year on the Helsinki Stock Exchange. Framery belongs to medium-sized listed companies in terms of market value.
According to statistics, nine companies have been listed on the Helsinki Stock Exchange this year. Some of them are transfers of companies from the First North marketplace to the main list, which the stock exchange records as new listings.