Fashionette prices IPO amid DAX devastation

German e-commerce company Fashionette, which sells designer handbags and accessories online, set a price for its IPO on the Frankfurt stock exchange on Tuesday, even as the main equity index in the country took a pasting.
The company sold new shares alongside a placement from German investment fund Genui, its major shareholder. It originally set a range of €30-€38 per share for the IPO last week and was covered on its first day owing to strong demand.
However, Genui decided to price the deal ...Already a subscriber? Login