Editor
German perfume retailer Douglas AG slumped as much as 11 percent as it began trading in Frankfurt after raising €850 million ($929 million) in the country’s largest listing this year.
The CVC-backed company’s shares hit a low of €23.20 a share, compared with the IPO price of €26. The offering was pitched at the bottom of an advertised range to entice investors back into a market that has been subdued for much of the past 18 months.
