Submarine Tech-Firm Gabler Group Plans IPO in Frankfurt

Gabler Group, a maker of submarine technology components that derives most of its revenue from defense contracts, announced plans for an initial public offering in Frankfurt.

The German firm plans to begin trading in early March and aims to raise about €40 million ($47 million) from the issue of new shares. Its owner Possehl Group will look to sell an unspecified number of existing shares in the offering, the company said in a Monday statement.