Cimpor flies as investors shift to Club Med equity

21 May 1998

INVESTORS this week dashed to buy the $725m issue of shares in Portuguese cement company Cimpor, providing the strongest evidence yet of how comprehensively attitudes to southern European equity markets have changed.

Although most analysts are pessimistic about the cement sector in general, the institutional tranche was four times oversubscribed, the retail tranche 150 times; there has been an equally rapturous response to recent Spanish privatisations, for Argentaria and Tabacalera. With Emu driving interest rates down, demand for equity ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial