ISS brings flotation forward to Thursday following huge interest
Due to a surprisingly large amount of interest in ISS stock among private and professional investors in Denmark and abroad, the outsourcing giant has announced that it will go ahead with its stock market flotation on Thursday – earlier than what was expected last week.
As of noon today, it will no longer be possible to submit orders for ISS stock worth three million kroner or less, while investors who wish to acquire individual options worth more than three million kroner have until 16:00 tomorrow.
”The early ending of the tender period for private investors is due to the total amount of submitted orders for ISS stock by private investors surpassing the expected allocation of stock designated up to three million kroner,” ISS wrote in a press release.
Danish index helped
Per Hansen, an investment economist for Scandinavian stockbroker Nordnet, said that the popularity of ISS stock was not only due to competent sales work from the company, but a positive trajectory on the Danish stock market recently.
“The demand has been driven by the phenomenal atmosphere concerning Danish stock recently, which culminated in February with a Danish index rise of more than 10 percent,” Hansen told Jyllands-Posten newspaper.
Hansen believes that the price issued for ISS stock is likely to be somewhere between 150 and 155 kroner.