Bravofly Rumbo newly listed shares falter in first days

By Nina Flitman
16 Apr 2014

Bravofly Rumbo Group traded down 8% on its SIX Swiss Exchange debut after the Swiss online travel agent completed its Sfr256m ($291m) IPO on Monday, despite having a book many times oversubscribed.

The shares, which had been priced at Sfr48 each, in the top half of the Sfr40-Sfr52 price range, traded as low as Sfr43.55 on Tuesday and by the close on Thursday were at Sfr44, down 8.3% on the listing price. 

A fellow online travel agent, Spain’s eDreams Odigeo, also traded down on its ...

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