The initial public offering of Hidraulica Plopeni (HPR) producerof hydraulic pumps was just 0.04% subscribed, the lowest levelregistered by an IPO launched on the Stock Exchange in the past 10years.
Four investors, who subscribed 38,000 shares worth 4,180 RON(less than 1,000 euros) out of a total of 97 million shares put upfor sale, participated. The company had planned to raise 10m RON(2.3m euros) to accomplish its investments plans in the field ofgreen energy.
The subscription degree of Hidraulica Plopeni offering is evensmaller than the one of the listing offer of Apa Stareţului mineralwater producer carried out five years ago, which raised 1.5% fromthe targeted sum.
Hidraulica Plopeni pledged, through the prospectus, its floatationon the Bucharest Stock Exchange irrespective of the amount of cashthrough the IPO, so that it has to request admission to tradingwithin 30 days.
"The only explanation I can give for the lack of interest inHidraulica IPO is the market context. Let us not forget the statealso delayed its listings this year. Brokers say a lot of activemoney is blocked in FP stock", stated Nicolae Gherguş, the generalmanager of Confident Invest, the brokerage that handled HidraulicaIPO.
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