T-Online Shares Have Stronger-Than-Expected Start
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The initial public offering of T-Online International whose IPO on the German Neuer Markt was oversubscribed ten-fold, took place Tuesday with an opening price of 28.30 Euro (27.06USD). The initial price listing lies barely over the issue price of 27 Euro (25.82USD), which was fixed at the low end of the price-span in view of the current state of the markets. Total proceeds of the IPO, amount to 3.08 billion Euro (2.95 billion USD), according to Deutsche Telekom chief executive Ron Sommer.
Altogether 4.62 million private investors subscribed to T-Online stocks, of this number, 528,000 were T-Online customers, who had previously taken part in a user survey. Some of them are believed to have already sold their stocks within hours following the first listing. In early business, dealers had registered purchases by consortial banks to support prices. The stock is currently increasing in value against the general Neuer Markt trend and the current price lies at 32.90 Euro (31.48USD). Tendency is climbing, comment dealers.
German Finance Minister Hans Eichel (Socialdemocratic Party) assesses the current price trend of T-Online as a sign that price losses on the Neuer Markt will soon come to an end. He came to the conclusion that a "fundamentally better situation in Europe" would soon kick in. "Follow the figures", he recommended the gathered listeners at the initial conference marking the debut of the daughter of the Deutsche Telekom