for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Banks

German spectacles retailer rises on Frankfurt stock exchange debut

BERLIN (Reuters) - Shares in German online spectacles retailer Mister Spex opened 1.5% above its offer price in a stock market debut on Friday.

The company opened at 25.38 euros ($30.01) per share, compared to its offer price of 25 euros per share, valuing the Berlin-based company at around 829 million euros.

Mister Spex is owned by co-founders Dirk Graber and Mirko Casper, along with investors including Goldman Sachs, DN Capital, Scottish Equity Partners and XAnge.

The company aims to use the proceeds to ramp up its growth strategy, expand internationally and repay a bridge loan facility.

($1 = 0.8456 euros)

Reporting by Caroline Copley; Editing by Kirsti Knolle

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up