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🇧🇪 Belgium /Economy & Trade

Lotus Bakeries shares hit record 13,000 euros

From VRT NWS · () Dutch

Translated from Dutch, summarized and contextualized by DistantNews.

At a glance

News Sources not specified Outcome reported
  • Lotus Bakeries' share price closed at a new record of 13,000 euros on Monday.
  • The company recently announced strong half-year results, leading analysts to raise their price targets.
  • CEO Jan Boone has no plans to split the share, viewing its high price as a symbol of the company's success.

The share price of Belgian biscuit maker Lotus Bakeries reached a new record high, closing at 13,000 euros on Monday. During trading, the stock even briefly surpassed this mark, peaking at 13,020 euros.

This milestone follows the company's announcement of excellent half-year results earlier this month. Several analysts from firms including KBC Securities, ING, and Goldman Sachs subsequently raised their price targets for Lotus Bakeries shares to above the 13,000 euro mark.

The current share price makes it virtually inaccessible for the average investor. De Tijd reports that the Belgian stock is now among the top 10 most expensive shares globally.

Despite the high price, Jan Boone, CEO and a significant family shareholder, stated that there are no plans to split the stock to make it more easily tradable. He emphasized to De Tijd that the high share price symbolizes the company's successful performance in recent years.

The high share price symbolizes the company's success in recent years.

— Jan BooneThe CEO explained his reasoning for not splitting the company's stock to De Tijd.
DistantNews Editorial

Originally published by VRT NWS in Dutch. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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