March 9 (Reuters) - Shares in German submarine systems maker Gabler Group rose in their debut on the Frankfurt stock exchange on Wednesday, opening at 47.2 euros ($54.56) per share compared to its
Gabler shares fall below offer price on Frankfurt debut
Gabler Group's Stock Market Debut and Performance
(Corrects day of the week in paragraph 1)
Initial Trading Activity
March 9 (Reuters) - Shares in Gabler Group dipped below its offer price in the German submarine systems maker's debut on the Frankfurt stock exchange on Monday, having risen earlier in the day.
Price Movements
The shares fell to 43.6 euros ($50.47) apiece by 1349 GMT, below the offer price of 44 euros, after rising as much as 49.1 euros earlier in the day.
Company Valuation
The company, which primarily makes hydraulic and electrical mast systems for submarines, had been valued at 266 million euros at its final offer price.
Share Structure and Placement
Free Float and Ownership
The Luebeck-based company has 49.9% of shares in free float, with a combination of newly issued shares, existing shares from the holdings of majority owner Possehl Mittelstandsbeteiligungen and shares in connection with a greenshoe option amounting to a total placement value of around 132.8 million euros.
Exchange Rate Information
($1 = 0.8639 euros)
Reporting Credits
(Reporting by Bernadette Hogg; Editing by Linda Pasquini and Emelia Sithole-Matarise)
