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Price of oil and gas firm INA’s shares rises by 28.4% in first day of trading.

Price of oil and gas firm INA’s shares rises by 28.4% in first day of trading. The price of the shares of oil and gas company INA soared to HRK 2,500 to close at HRK 2,170 on the very first day of their trading on the Zagreb Stock Exchange. The price at which the shares were sold in the IPO launched by the government was HRK 1,690, which means the price went up by 28.4%. The total turnover in INA shares amounted to HRK 188.4mn (EUR 25.6mn) on Friday and dealers estimated that the market capitalisation of the Zagreb bourse reached EUR 27bn. In London , where some third of the shares are traded via GDRs, the price closed at USD 390 (HRK 2,166). The government plans to offer a 20% stake in power utility HEP on the stock exchange next year, which is expected to boost market capitalisation further to EUR 30bn.

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