A year ago, a Berlin-based subscription meal service called Hello Fresh tried to interest investors in an initial public offering, but there were few takers and the plan was dropped. A year later, with the DAX stock index up 24 percent, Hello Fresh revised its IPO and the offering is now oversubscribed.
The IPO boom in Germany is not only helping internet stocks. Varta, the Swiss-owned industrial-battery company, and Voltabox, a maker of industrial batteries, are among the 10 successful IPOs launched in Germany this year .
“The economy is booming, interest rates are low and corporate profits are rising,” said Michael Muders, a portfolio manager at Union Investment Management in Frankfurt.