I just returned from the opening of the Euroinvestor-stock at the Copenhagen Stock Exchange (OMX). Euroinvestor.com, a website focusing on finance/investment complete with financial news, indices, portfolio management, blogs and forums. (Read here for more info: First Danish portal announces IPO on OMX Copenhagen Stock Exchange)
The price of the IPO was set to 10,5 but when the market opened, the first trade was at 15,9. When I left a few minutes ago a total of 129 trades had been conducted, the last one one those to a price of 13,7.
The Euroinvestor business model is advertising based – and apparently investors have confidence herein. Which might not come as a big surprise for readers of this blog. If you haven’t been there, you could confront Steve Ballmer to me (and a few others): ALL advertising to be online in ten years or the Danish 2006 internet advertising revenues surprisingly close to US figures posts.
(Apart from this, I have never witnessed the opening of a new stock before, and I must admit I thought it was very exiting even though I have no money at stake here!)