Shares of the Lübeck-based company rose as high as 449 Euro in the German over-the-counter Scale segment. This placed them more than eleven percent above the issue price of 44 Euro. In contrast, the German benchmark Dax index plunged by nearly three percent at times due to the conflict in Iran.
The subsidiary of the family-owned industrial holding company Possehl placed 3.02 million Gabler shares with investors. The emission volume totaled 133 million Euro. Approximately one-third of the proceeds will go to the submarine supplier, with the remainder going to Possehl. The holding company remains the majority shareholder with a 50.1 percent stake following the IPO.
Gabler was founded in 1962 by a former submarine engineer and primarily produces hoistable mast systems. These masts allow submarines to observe their surroundings while submerged. The company considers itself the European market leader in this sector, which accounts for approximately two-thirds of its revenue. Last year, Gabler generated pro-forma sales of 61.7 million Euro and an operating profit of 16.5 million Euro.
(Report by Hakan Ersen, edited by Ralf Banser. For inquiries, please contact our editorial office at berlin.newsroom@thomsonreuters.com (for politics and economics) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).)
