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Purcari Wineries starts trading on Bucharest bourse

Purcari Wineries starts trading on Bucharest bourse Purcari Wines

BUCHAREST (Romania), February 15 (SeeNews) - Purcari Wineries Plc  [BSE:WINE] on Thursday started trading on the main market of Bucharest Stock Exchange (BVB), following a successful initial public offering (IPO) of 49% of its shares, bourse data showed.

The final offer price was 19 lei per share, valuing the offering at 186.2 million lei ($49 million/40 million euro).

The company shares were trading at 19.7 lei by 1339 CET on the BVB, as 136,780 shares had changed hands by that hour, bourse data showed.

Purcari launched the IPO on January 29, hoping to raise up to 274 million lei through the sale of 9.8 million shares.

The offering was more than four times oversubscribed by retail investors, despite turbulence on global markets, BVB said.

Purcari Wineries is a public company incorporated under the laws of Cyprus, which owns wineries in Romania and Moldova.

It owns over 1,000 hectares of vines and four wineries in Romania and Moldova - Bostavan, Purcari , Ceptura and Bardar. Its main markets are Romania, Moldova, and Poland.

(1 euro=4.6598 lei)