Germany’s Bastei Luebbe completed an IPO on the Frankfurt stock exchange — though the company wound up raising only about half of what they hoped to garner in “a challenging market environment.” When the plan was announced in September, they aspired to sell 5.3 million shares at up to 11 euros a share (for proceeds of 58 million euros). In the end, they were able to place 4 million shares, at a lower price of 7.5 euros a share. The proceeds of 30 million euros will be used for digitization and content acquisition. Shares will begin trading on October 8. […]
