The initial public oVering of T-Online, a German company owned primarily by Deutsche Telekom, provided some respite for a turbulent technology market when its shares climbed 39% on their Wrst day of trading.
In the world’s largest internet IPO, T-Online, Europe’s largest internet service provider, launched its e2.9 billion oVering on the Neuer Markt in the wake of some of Nasdaq’s sharpest drops. With lead managers Dresdner Kleinwort Benson and Goldman Sachs wary of the volatility of the markets, the deal turned out to be a rare success.
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