Vertice shares rise 28% in day one trading


MADRID -- Spanish content and service provider Vertice 360 saw its shares close at 2.65 euros on its first day of trading Wednesday, marking a 28.02% rise over the stock authorities reference price for the listing of 2.07 euros per share.

"We are satisfied with the evolution of the value of the first day of trading," Vertice president Jose Maria Irisarri said. "We think that the share offers an important run for those investors that have trusted the company today."

More than 6.7 million shares traded worth some 19 million euros on the Spanish continuous market in the company's public listing, without a previous public offer of sale or public subscription period.

Vertice's parent company, high-tech group Avanzit, divvied up 18% of the company among its shareholders for free in August.

Vertice employs 600 people and owns a chain of content producers, including TV content producer Notro Films, production house Telespan 2000, production and post-production services via Telson, logo and corporate imaging, sound tracks. Additionally, the group holds leading mainstream theatrical distributor Manga Films.