Crédit Agricole soars 10% on debut
12 April 2012
SHARES in French bank Crédit Agricole surged almost 10% to e18.30 today after they made their debut on the Paris Bourse. The heavily oversubscribed issue was priced at e16.60 on Thursday, at the top of its indicated range, but opened at e18.25 before edging higher with more than 38m shares changing hands. They later settled at e17.84, up e1.24.
The share-price increase values the listed portion of the bank at almost e17bn (£10bn). The flotation is one of the largest in Europe this year, and sees about 30% of the bank sold to the stock market.
