Schott Gains After Staging Germany’s Biggest IPO This Year
- Shares rise as much as 13% on first day of Frankfurt trading
- Company supplies drugmakers with pre-filled syringes, vials
This article is for subscribers only.
Schott Pharma AG shares surged on their first day of trading after the drug-industry supplier’s €813 million ($854 million) initial public offering, the biggest in Germany this year.
The stock rose as much as 13% in Frankfurt. Schott AG, a maker of specialty-glass products owned by the Carl Zeiss Foundation, sold 30.1 million shares in its pharma unit. They traded at €30.2 as of 3:11 p.m. in Frankfurt.