Citizens Made 20,000 Kn On INA

Citizen who bought a packet of 22 shares at the Ina public offer could earn around 20,000 kuna by today.

Until now, at the Zagreb Stock Exchange in less than two months, a 540 million kuna turnover was made with the share of INA oil company, and a trend of a slower, but stabile growth is noticeable. Without great and unexpected changes, INA shares are supposed to continue with the stabile growth and analysts` anticipations how INA share should rise 10 or more percent should come true, the Business.hr reports.

Market value of Ina increased 50 percent

Expectations of most analysists how Ina share will stagnate in the first month of 2007 still did not come true, because the average price on the 2nd of January was around 2,260 kuna, while today it is around 2,600 kuna, which represents a rise in value of 15 percent. Since the public offering of the shares, INA`s market value increased by 50 percent, but the question is how much is this trend based on a spectacular trade or expectations, and how much on real foundations like business results.

Strong rise of INA share price might worry the investors

But, such strong rise of INA share price might worry the investors, because a simple question is imposed: Why would the government place INA shares to citizens and institutional investors at 1,690 kuna a share, and by doing so in less than two months give them a profit of almost 54 percent, if INA really is worth 2600 kuna per share or more?