Company valued at 9.5 bln euro after pricing at top of range IPOs picking up in Europe
WARSAW, Jan 27 (Reuters) - Shares in Polish parcel locker firm InPost jumped 19% on their Euronext debut on Wednesday, valuing the company which benefited from online shopping during the pandemic lockdowns at 9.5 billion euros ($11.55 billion).
The parcel business is widely used in Poland by sellers on online commerce platform Allegro, which debuted on the Warsaw bourse in October with one of the largest IPOs in Europe.
IPOs have picked up in Europe this year after a quiet 2020 when the spread of COVID-19 wreaked havoc on economies and led to stock market volatility.
Top securities regulator in Massachusetts thinks trading in GameStop Corp stock, which skyrocketed for a fourth straight day, suggests there is something "systemically wrong" with the options trading surrounding the stock, Barron's reported https://bit.ly/3iRbdRB on Tuesday.
By Reuters Staff
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PARIS, Jan 26 (Reuters) - France will grant AccorInvest, the real estate arm of hotel group Accor, a 500 million euro state-guaranteed loan to cope with the impact of the coronavirus crisis, Finance Minister Bruno Le Maire said on Tuesday.
“We are indeed granting AccorInvest a state-backed loan of half a billion euros . It is certain. We are finalising this loan today,” Le Maire told Radio Clasique.
AccorInvest owns and leases hotels and is only minority-owned by Accor, Europe’s largest hotel group, which operates brands such as Ibis or Sofitel.
Le Maire said AccorInvest, which employs 7,000 people, was “in great difficulties” as hotels worldwide run at reduced capacity because of coronavirus-related travel limits.
Shares in MONETA Money Bank rose more than 11% on Monday after Czech billionaire Petr Kellner's PPF group renewed an attempt to gain majority control through an offer similar to a plan that failed two years ago.
Britain's Rolls-Royce lowered forecasts for how much its engines will fly this year as tighter coronavirus travel restrictions inflict fresh pain on airlines, saying this would mean a cash outflow of some 2 billion pounds ($2.7 billion).