Postbank shares open at 29 euros on first day of trading
Shares in Postbank, the banking arm of the semi-privatised German postal authority Deutsche Post, debuted on the Frankfurt stock exchange at a price of 29 euros on Wednesday, slightly higher than their issue price of 28.50 euros.
Deutsche Post floated 55 million Postbank shares — or around 33 percent of the unit’s share capital — on the stock exchange on Wednesday in the biggest initial public offering (IPO) in Germany in nearly four years.
The issue raised close to 1.6 billion euros (1.9 billion dollars) for Postbank’s parent company.
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