Look at a mixed IPO year
(Photo: Auto1)
Frankfurt. On the stock exchanges, the prices rush from one record to the next, the leading index Dax is constantly climbing new heights. From an investor’s point of view, however, the IPOs this year gave a mixed picture: While the software group Suse and the radio mast operator Vantage Towers, for example, delighted shareholders with high price gains, the online used car dealer Auto1 and the virtual glasses dealer Mister Spex were more of a disappointment for investors.
That could explain why there are currently hardly any new candidates for an Initial Public Offering (IPO) in Germany. Some foreign professional investors have their fingers burned. Hopes now rest on 2022.
The mood change took place after the summer, especially with regard to newcomers from the tech sector, explains Philipp Suss, who is responsible for the share placement business at Goldman Sachs in Germany. Investors have held back in companies with a weak financial profile and “high capital increase components”, so Suess. “There was a return to companies that are already profitable.”
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