Mickey Mouse pulls them in

Press, 26 October 1989, Page 30

Mickey Mouse pulls them in

NZPA-Reuter London Mickey Mouse wowed them on his debut on the London stock market on Tuesday as investors scrambled for stakes in the EuroDisneyland theme park. Heavy demand for shares in the project ahead of formal flotation scheduled for November 3 prompted the London Stock Exchange to take the unusual step of opening a limited, “advanced” market in unissued stock. EuroDisney plans a SUSI billion ($NZ1.728) share flotation in Paris and London, which will leave the United States Walt Disney Co. with 49 per cent of the company. EuroDisneyland SCA is building the park, 32km east of Paris and due to open in 1992. Shares in EuroDisneyland opened in London at 820 p ($NZ22.16) compared with an issue price of 707 p fixed on October 5.

At the latest price, the issue, which was 11 times oversubscribed ■ internationally, is capitalised at £1.48, one analyst said. The stock exchange said it agreed to allow early trading in EuroDisneyland to avoid a disorderly unofficial market developing, but it warned that if the flotation were cancelled, all dealings would be null and void. Under the stock exchange’s exemption, dealings will be on a "when issued” basis until November 6.