IONOS sets IPO price guidance at lower end of range

FILE PHOTO: A trader works at the Frankfurt stock exchange in Frankfurt, Germany, February 22, 2022. REUTERS/Timm Reichert/File Photo

LONDON (Reuters) - German web hosting firm IONOS plans to sell shares at the lower end of the targeted price range in its initial public offering (IPO) on the Frankfurt bourse, a deal seen as a potential icebreaker for the reopening of European markets.

The company is offering stock at 18.50 to 19.50 euros ($19.94-$21.02) per share, compared with the original price range of 18.50 euros to 22.50 euros, according to a bookrunner message seen by Reuters on Monday.