Deals
Rocket Falls on Debut After Biggest German IPO Since 2007
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Rocket Internet AG fell 13 percent on its first day of trading in Frankfurt, failing to replicate investor enthusiasm for e-commerce stocks sparked by Alibaba Group Holding Ltd.
The shares closed at 37 euros, valuing the Berlin-based startup investor at 5.7 billion euros ($7.2 billion). Zalando SE -- another company backed by Rocket founders Marc, Oliver and Alexander Samwer, which had its trading debut yesterday -- lost 12 percent.