Alteo shares go for a little over IPO price on first trading day

Telco

Shares of Hungarian energy supplier and trader Alteo traded at a little over their IPO price about an hour into their first trading day today, according to Hungarian news agency MTI.

The shares traded at HUF 4,680 at 9.50 am on Monday, close to the HUF 4,630 issue price in an IPO that ended three weeks earlier. 

Alteo raised about HUF 1.4 billion through the IPO and private placement, a little less than half of what it had aimed for.

Alteo sold 106,672 shares in the IPO and another 193,320 shares in the private placement.

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