Renk’s IPO bang masks troubled world

Athens International Airport

07/02/2024 10:45

(The author is a Reuters Breakingviews columnist.  The opinions
expressed are his own.)
    By Pierre Briancon
       LONDON, Feb 7 (Reuters Breakingviews) - Shares in the
German tank-gearbox maker soared 23% on the first day of
trading. That and the Athens airport operator’s strong market
debut suggest calmer IPO waters. Yet Renk’s success stems from
heightened geopolitical tensions. That should keep investors on
alert.
    Full view will be published shortly.
    Follow @pierrebri on X
    
    CONTEXT NEWS
    Shares in Renk, a German defence contractor, shot up by more
than 20% on their first day of trading in Frankfurt after
controlling owner Triton Partners sold about 500 million euros’
worth of shares in a private placement.
    Triton had pulled a planned initial public offering in
October due to what it called a “clouded” market environment.
    Shares in Athens International Airport jumped 12% on Feb. 7
after a partial privatisation by the Greek state.

 (Editing by Lisa Jucca and Oliver Taslic)
 ((For previous columns by the author, Reuters customers can
click on  BRIANCON/ 
pierre.briancon@thomsonreuters.com; Reuters Messaging:
pierre.briancon.thomsonreuters.com@reuters.net))