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Daf shares buoyan1
8th June 1989, Page 6
8th June 1989
Page 6
Page 6, 8th June 1989
— Daf shares buoyan1
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• Daf shares soared by more than £4 per share when trading on the Amsterdam and London Stock markets opened on Monday. The company's shares were priced at FL47 (£13.17) but jumped to £17.25 before falling back to close at £16.62.
Daf s 15,000 workers, including 7,000 Leyland Daf employees, made a windfall profit as the value of their 12 free shares increased from 2158 to £206. British Aerospace made 290 million by selling a 24% Daf stake in the flotation but retains 16% of Daf shares.
The sale of the 17.9 million Daf shares was more than 20 times over-subscribed when the flotation offer closed.