IONOS shares slip after icebreaker IPO

LONDON/FRANKFURT: Shares in German web hosting company IONOS fell roughly 5% on their stock market debut on Wednesday in a sign investors remain wary of companies going public after a prolonged freeze.

The shares started trading below the issue price through the first day of trading on the Frankfurt Stock Exchange and closed at 17.54 euros.

The initial public offering was priced on Tuesday at 18.50 euros per share, the bottom of the company’s target range.

“This won’t be the last IPO this year, though the environment remains challenging,” said Thomas Book, a member of the executive board of Deutsche Boerse, which operates the Frankfurt exchange.