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Banking

Six PSE members to be market makers for ECM issue.

Six PSE members to be market makers for ECM issue. The Prague Stock Exchange (PSE) has closed contracts with six companies, members of the PSE, which will become market makers of property developer ECM Real Estate Investments issue. These are brokerages Atlantik financni trhy, FIO, burzovni spolecnost, Patria Finance bank and WOOD & Company Financial Services, as well as domestic banks Ceska Sporitelna and HVB Bank Czech Republic. We note that trading with ECM shares on the PSE main market will begin today, Dec 7 and the share issue can be traded in both SPAD and automatic trades. The price at which the shares will be traded is expected to be defined today. The initial public offering (IPO) was made at EUR 55 (CZK 1,540) per share, but investors expect much lower price. The share issue trading will continue in standard regime as of Dec 11. The IPO is aimed at raising capital for the company’s future real estate projects in the Czech Republic and Russia .

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