Since Ellos was listed on July 8th with a subscription price of 60 kronor, shares worth 64 million kronor have changed ownership. Of this sum, Danske Bank accounts for 44 million kronor.
The bank has been contracted to carry out support purchases to stabilize trading. This is a common measure during stock market listings, but the support purchases must not be made at a price higher than the subscription price.
The share stands on its own feet
During 15 of the 23 trading days since the listing, the bank has purchased shares in Ellos. On average, Danske Bank has accounted for 74 percent of all share purchases on these days. On July 31st, the bank accounted for 98 percent of the purchases, when 43,210 shares were traded. In total, the bank has purchased 750,000 shares.
The rules state that support purchases may last for a maximum of 30 days. That limit has now been reached, meaning that the e-commerce company's share, as of today, is traded without support from the bank.