Shares in Hellenic Duty Free (HDF) leapt 6.7% in trading on Monday. At the end of 2010, the duty free operator completed a merger through absorption of Folli Follie and Elmec Sports and issued new shares.
Hellenic Duty Free Shops shareholders exchanged one new share for 0.434 shares in the new company. Folli Follie exchanged one existing share for 1.53 shares in the new company, while Elmec Sport investors will exchange each share for 0.062 shares in the newly created entity. Share trading in Folli Follie and Elmec Sport were suspended from 31-Dec-2010. HDF shares have gained 7.5% since the merger.
Selected airport suppliers daily share price movements (% change): 17-Jan-2011
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