Rocket Internet, the European startup incubator behind a raft of technology companies including Foodpanda, Paymill and Jumia, started trading on the Frankfurt Stock Exchange today.
As tech.eu reports, the firm opened at €42.50 ($54 USD) per share, valuing the company at €6.7 billion ( $8.4 billion USD). The price quickly dropped by more than 10 percent, but has since recovered to around €40 ($51 USD) per share.
Joint bell ringing in #Frankfurt: Welcome to @boersefrankfurt @RocketBerlin! pic.twitter.com/nf3mhlK5FL
— Deutsche Börse Group (@DeutscheBoerse) October 2, 2014
According to Reuters, the IPO is Europe’s largest since 2000.
➤ Borse Frankfurt (via tech.eu)
Thumbnail image credit: DANIEL ROLAND/AFP/Getty Images
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