OW Bunker storms out of the stock market gate

Opening share price of 145 kroner rose to 163 kroner on day one

On its first day of trading on the NASDAQ OMX Copenhagen stock exchange yesterday, OW Bunker shares shot up by 18 percent from 145 kroner per share before settling at 163 kroner.

OW Bunker, a global market leader in marine fuel logistics and Denmark’s biggest company after AP Møller-Maersk in terms of turnover, enjoyed a turnover of 90 billion kroner and earned more than 300 million kroner in profits last year.

“It’s a journey that has been completed,” Jim Pedersen, the head of Nørresundby-based OW Bunker, told Børsen business newspaper.

“In general, the backing of the company has been far greater than we could have hoped for, and I hope that we can keep our focus in the long-term.”

READ MORE: Denmark's second biggest company to be listed

20,000 trades
According to Børsen, 15 percent of the shares sold ahead of the listing debut have been sold to private investors in Denmark, while the rest has been sold to institutional investors in Denmark and abroad.

The pension fund, PFA Pension, had announced that it was prepared to shell out a three-digit million kroner figure for OW Bunker shares.

Investment analysts predict that a billion kroner's worth of OW Bunker shares will be traded today alone – close to 20,000 trades.





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