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TSK Rallies About 15% in First Three Sessions After IPO

The stock move signals confidence in TSK’s execution following the start-up of a 500 MW Mexico plant.

Overview

  • Shares closed higher in each of the first three sessions, rising 4.95%, 5.66% and 3.57% from a €5.05 IPO price to €5.80, after touching €5.96 intraday.
  • Santander Asset Management disclosed a 3.4% holding, equal to about 3.92 million voting rights out of 115.3 million, in CNMV filings.
  • TSK began commercial operation of the Mérida combined-cycle plant after receiving authorization from Mexico’s grid operator CENACE.
  • The facility, named Elvia Carrillo Puerto, adds close to 500 MW for CFE and is expected to strengthen supply for more than 1.5 million people in the Yucatán peninsula.
  • The García Vallina family remains the controlling shareholder of the Gijón-based firm as TSK broadens its investor base through the market listing.