Rocket Internet IPO Starts Weak

Posted: Oct 2 2014, 2:57am CDT | by , in News | Latest Business News


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Rocket Internet IPO Starts Weak
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The German Rocket Internet IPO is off to a slow start, trading below the initial share price of 42.50 Euro.F

The German Internet powerhouse Rocket Internet started to publicly trade today. The IPO share price have been set at the top of the range with 42.50 Euro. Immediately after start of the trading the shares dropped below 40 Euro.

Shares in the Berlin-based company fell to 36.66 euros after a few minutes. Clearly, Rocket Internet is no Alibaba. Still, the IPO can be considered a success as the company raised 1.6 billion Euro. Also the current share price is trading now at 40.95 Euro, which is not that far off anymore from the IPO price.

The company founded by the Samwer brothers is operating a large number of internet companies, with many based on US startups. This got them a bad reputation.

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<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Manfred "Luigi" Lugmayr () is the founding Chief Editor of I4U News and brings over 25 years experience in the technology field to the ever evolving and exciting world of gadgets, tech and online shopping. He started I4U News back in 2000 and evolved it into vibrant technology news and tech and toy shopping hub.
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