(New: Closing price)

FRANKFURT (dpa-AFX Broker) - Douglas made a weak debut on the stock exchange on Thursday. The shares of the perfumery chain started trading on Xetra at 25.50 euros, already below the issue price of 26.00 euros. In the end, they cost 23.06 euros, a good eleven percent less than the issue price, which was already at the lower end of the issue range of up to 30 euros.

Just under 32 percent of the company was floated on the stock exchange. The previous owners, the financial investor CVC and the Kreke family, remain the main shareholders even after the IPO. CVC indirectly holds more than half of the share capital.

Analyst Konstantin Oldenburger from the broker CMC Markets had already noted at the start of the week that investors should critically scrutinize the price range of the shares. A financial investor such as CVC naturally has a great interest in maximizing the valuation of the Borsengang. "In addition, investors should expect further tranche sales by the private equity investor in the future, which could repeatedly put pressure on the share price." According to Oldenburger, this approach has already been observed in other Borsen transactions with a similar constellation.

The former Douglas Holding was already listed on the stock exchange and even a member of the MDax until 2013. However, the company, which at the time was also less focused as a book and chocolate retailer, was then removed from the stock exchange after the takeover by financial investor Advent and the Kreke family in order to strategically reposition it. CVC then took over the majority in 2015.

The new Douglas has 1850 stores in 22 countries across Europe and employs around 18,000 people. More than 200 new stores are to be opened by the end of the 2025/2026 financial year, almost half of them in Central Eastern Europe. There are also plans to renovate and modernize 400 existing stores./ag/jha/ajx/mis