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CDR - CD Projekt SA News Story

PLN250.1 0.0  0.0%

Last Trade - 22/01/21

Sector
Consumer Cyclicals
Size
Large Cap
Market Cap £4.94bn
Enterprise Value £4.83bn
Revenue £129.7m
Position in Universe 10th / 784

BUZZ-Allegro: Poland's e-commerce giant shoots up in IPO

Mon 12th October, 2020 2:01pm
(Adds details, analyst comments, updates share price move)
    ** Shares in Poland's e-commerce firm Allegro  ALEP.WA  soar
67% in their market debut, the biggest IPO in Warsaw in a
decade, with analysts pointing to the company's potential given
the coronavirus pandemic
    ** "The recent pandemic highlighted the value of e-commerce
for a consumer, and accelerated e-commerce penetration," Ivan
Kim, an analyst at Xtellus Capital says
    ** "Today's debut on WSE turned out to be above expectations
and, I believe, above expectations of so-called market
consensus," says BNP Paribas analyst, Michal Krajczewski
    ** Krajczewski adds that Allegro's profile is attractive to
foreign investors, taking into account trends in global trade,
which are accelerating due to the COVID-19 pandemic
    ** Allegro jumped as much as 72.1 zlotys compared to a 43
zlotys issue price and is the most heavily traded stock in
Warsaw -- more than 46.2 million shares changed hands so far,
accounting for nearly half of the volume in Warsaw
    ** Its market capitalisation reached about 66.5 billion
zlotys ($17.57 billion) at opening, overtaking other blue chips
and representing nearly double the value of biggest Polish video
game producer CD Projekt  CDR.WA 
    ** Allegro is the most recognizable e-commerce brand in
Poland, with its website attracting 20 million visitors a month



($1 = 3.7841 zlotys)

 ((Anna.banacka@thomsonreuters.com; anna.pruchnicka@tr.com))
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