Ionos trades down on Frankfurt debut
![New York, USA - 15 May 2020: IONOS mobile app logo on phone screen, close-up icon, Illustrative Editorial](https://assets.euromoneydigital.com/dims4/default/582db03/2147483647/strip/true/crop/575x375+0+0/resize/840x548!/quality/90/?url=http%3A%2F%2Feuromoney-brightspot.s3.amazonaws.com%2F5f%2Fb7%2F8ec751ef41a1a2dda650af899a28%2Fionos-2-alamy-575-375.jpg)
First major European IPO of 2023 off to an underwhelming start
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