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Promising start for first Neuer Markt listing of the year

New activity on Europe's growth markets may be a sign that a recovery is underway.

Dr Hoenle, the German ultra-violet technology firm, made its debut on the Neuer Markt yesterday. In the first listing on the Neuer Markt this year, the company started trading at E16.5, a 37 per cent increase on its issue price of E12. At the end of the day shares had risen 45 per cent to E17.4, valuing the company at E91.2m.

Reuters quotes a German trader saying: “We are seeing more special interest from retail investors. Maybe it’s a sign that the good times are back but Dr Hoenle is a safer bet than some of the internet IPOs we have had in the last 18 months.

MM Warburg, the Hamburg-based private bank, Bayerische Landesbank and SchmidtBank acted as bookrunners.

Meanwhile bookrunners seem ready to go back to work in France as well. Business & Decision, a French business software company, is set to become the first IPO on the Nouveau Marché this year. The E16m listing is due to take place on 6 February. If it goes through, it will be the first IPO since November.