Bravofly Rumbo newly listed shares falter in first days
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.
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