Overview
- Shares were priced at €44 and began trading at €47.20 before moving above €48 in early dealings.
- Roughly 3.02 million shares were placed, generating about €40 million in expected net proceeds.
- The listing implies a market value of roughly €266 million for the Lübeck-based submarine systems supplier.
- Owner Possehl-Gruppe plans to retain at least a minority stake as Gabler pursues its niche in submarine navigation, communication and monitoring systems.
- Gabler becomes the seventh defense-related listing in Germany as peer Vincorion readies an IPO before Easter with investor Star Capital seeking about €300 million and insiders citing a valuation above €1 billion.