Developer ECM rises 8.9 pct in Prague bourse debut

PRAGUE, Dec 7 (Reuters) - Shares in real estate developer ECM Real Estate Investments <ECMPsp.PR> rose 8.9 percent in their trading debut on Thursday, only the second-ever initial public offering (IPO) on the Prague Stock Exchange.

ECM shares traded at 1,435 crowns at the opening bell, compared with their IPO price of 1,318 crowns.

Including the potential greenshoe option and the sale of existing shares, the offering will raise 80.75 million euros ($107.3 million) for the company, which focuses on real estate investment in the Czech Republic and is expanding in Russia.

The market price valued the company at $381 million, making it the smallest of the 10 stocks traded on the premium market-maker based trading segment of the Prague bourse. ((Reporting by Marek Petrus; Editing by Alan Crosby; Reuters Messaging: rm://marek.petrus.reuters.com@reuters.net; e-mail: prague.newsroom@reuters.com or marek.petrus@reuters.com; Tel: +420 224 190 477))

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Keywords: ECM IPO/DEBUT