RPT-Czech Pegas shares gain 4.6 pct in mkt debut

...

Shares in Czech artificial fabrics maker Pegas Nonwovens rose 4.6 percent in their Prague Stock Exchange debut on Monday, giving back initial gains of as much as 12.1 percent booked in early trading.

The company sold 1.81 million new shares, 2.58 million existing shares and an extra 0.66 million in over-allotment option, valuing the firm at 249 million euros at the IPO price of 749.2 crowns.

"There was massive profit-taking by some foreign institutional players, who pushed the price below 800," said brokerage Patria Finance.

The stock closed at 784 crowns in heavy turnover of 1.9 billion crowns ($90.05 million), accounting for 42 percent of all trading on the blue-chip market-maker SPAD trading segment.

The market, measured by the PX blue-chip index, firmed 0.22 percent to 1,626,1 points, near Friday's all-time high of 1,632.5.

[PRAGUE/Reuters/Finance.cz]