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Startup Incubator Rocket Internet closes 12.9% down in German IPO debut

German startup incubator Rocket Internet closed at €37 per share, down 12.9% from the issue price of €42.5 per share on the day it made its debut on Frankfurt Stock Exchange's Prime Standard. The company debuted at €42.5 per share, flat from the issue price of €42.5 per share and during the day, it reached a peak of €42.5 per share and a low of €36.66. At the time of writing this article, the shares had further slid to €35.74, down 15.9% from the issue price. It's worth noting that Rocket Internet had earlier sped up (pdf) its IPO by closing the offering on October 1, 2014, following "exceptional investor demand across all points of the price range". The company had mentioned that the offering was over-subscribed in excess of ten times at the top end of the price range (€35.50 – €42.50 per share). Following this, Rocket Internet fixed the…

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