Trokkoudes makes debut with 194% gain

Trokkoudes & Kyros Public Co. Ltd., the new entrant on the Cyprus Stock Exchange made its trading debut in the Alternative Market with a 194% gain compared to its IPO/issue price of EUR 0.17 per share.

Compared to the opening price of EUR 0.40 per share, the percentage day on the first day of trading amounted to 25% after the stock, trading under the CSE ticker code of TKYS closed at EUR 0.50 on Monday, June 9, 2008 on EUR 33.565 volume.

TKYS listed a total of 24 mln shares of EUR 0.17 nominal value for a first day market cap of EUR 12 mln. The company offered 2.7 mln shares during its listing procedure at EUR 0.17 per share with the offering made by Makariou Group Public Co. and Kyros Chrysanthou.
Based on the net profit of EUR 326.854 reported for 2007, the p/e ratio of TKYS comes to 37 times according to Financial Mirror calculations. For 2006, TKYS had reported net profit of EUR 229.276. There are no profit estimates for 2008 performance.