Shares in Belgian biscuit manufacturer Lotus Bakeries closed at 13,000 euros on Monday, a new record. During trading, the price even briefly exceeded this level, peaking at 13,020 euros.
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Lotus Bakeries shares reach record high, making them one of the most expensive shares in the world
Colin Clapson
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Earlier this month, the Lembeke-based company from Kaprijke in East Flanders announced excellent half-year results, prompting several analysts from financial giants including KBC Securities, ING and Goldman Sachs to raise their target price for Lotus Bakeries to over 13,000 euros.
However, a price like that per share makes it virtually inaccessible to the average investor. Financial daily De Tijd claims the Belgian share is even ranked among the top 10 most expensive shares in the world.
For Jan Boone, CEO and a major family shareholder of Lotus Bakeries, there are no plans to split the share and thus make it easier to trade. After all, the high share price symbolises the company’s success in recent years, he told De Tijd.