Czech government sold 0.63 pct in CEZ on Monday
PRAGUE, May 16 (Reuters) - The Czech government sold a 0.63 percent stake in power company CEZ (CEZPsp.PR) on Monday, data from the Securities Registry showed on Friday.
The sale -- the biggest ever in a single day under the government privatisation plan for CEZ -- brought the state's stake in the $45.6 billion company to 64.28 percent.
CEZ shares went ex-dividend on Tuesday.
The stock rose 3.1 percent on Friday to 1,340 crowns, a four-month high, following better-than-expected first-quarter results the previous session.
The state has sold 3.33 percent of CEZ shares, reducing its holding from 67.61 percent. It aims to sell 7 percent in total.
Meanwhile, CEZ bought back 10 percent of its own stock, creating a counter-balance on the market.
The buyback programme is complete and the company expects to start a new programme in three to six months, taking away a support for the stock in the meantime.
CEZ aims to cancel the stock it has bought in the completed buyback, which will again raise the state's holding.
