IONOS, Inc was spun off from United Internet and went public in Germany on the Frankfurt Stock Exchange. The first day of trading had the shares slip below their IPO price.
For domain investors the companies under the IONOS umbrella include InternetX and Sedo.
Ionos shareholders United Internet AG and a Warburg Pincus LLC affiliate late Tuesday set the offer price for the IPO at 18.50 euros ($19.85) a share, the bottom of the EUR18.50 to EUR22.50 range provided last month.
At 1120 GMT, shares in Ionos trade at EUR18.10, or 2.2% lower than the IPO price, having traded as low as EUR17.85 earlier Wednesday.
On completion of the offering, the stakes in Ionos held by German internet-services company United Internet and private-equity firm Warburg will be lowered to 62.1% and 20.6%, respectively, from 75.1% and 24.9% before the IPO, Ionos said.
Total proceeds from the IPO are expected to be EUR447 million, assuming placement of all shares, Ionos said.
IONOS moved their United States headquarters to my home town of Philadelphia, PA last year.
If you want to follow the stock, the symbol on XETRA is IOS, you can find quotes here