Euro Disneyland Stock Trading Is Off to a Fast Start

From Associated Press

Shares in Euro Disneyland SCA rose sharply Monday, the first day of official trading on London and Paris stock exchanges.

Euro Disneyland, which is half-owned by Walt Disney Co., has sold about $1 billion worth of stock to investors throughout Europe to help pay for a new Disney theme park to be opened in France in 1992.

Euro Disneyland shares closed at 879 pence, or $13.80, a share in London, up from the offer price of 707 pence, or $11.10, a share but below the mid-morning price of 890 pence, or $13.97, a share.

In Paris, the shares closed at 88.50 French francs, or $14.09, a share, up from the offer price of 72 French francs, or $11.46, a share.

In recent weeks, Euro Disney shares had been trading at about 800 pence, or $12.56, a share in the London "gray market," in which investors trade promises to buy and sell shares once official trading begins.

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