February 15, 2018 / 8:30 AM / 8 days ago

Instone Real Estate begins trade at issue price in Frankfurt debut

FRANKFURT, Feb 15 (Reuters) - Shares in Instone Real Estate Group opened at 21.50 euros in their debut on the Frankfurt stock exchange on Thursday, unchanged from the issue price.

Instone’s market debut is the second listing in Germany this year following drugmaker Dermapharm, which fell sharply on its first day of trading last week following a slump in U.S. and Asian markets triggered by fears of higher U.S. interest rates.

Instone stock had been offered to institutional investors at a price range of 21.50 euros to 25.50 euros but was priced at the bottom of the range on Tuesday, and the volume of the offering was reduced. (Reporting by Maria Sheahan; Editing by Tom Sims)

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