Vapiano opens issue price Frankfurt debut

RANKFURT, June 27 (Reuters) – Shares in German-owned restaurant chain Vapiano started trading at 23.95 euros in their Frankfurt debut on Tuesday, about 4 percent above their issue price.

Vapiano placed almost 8 million shares at 23 euros apiece in its initial public offering (IPO), raising about 184 million euros ($206 million) and giving it a market value of about 553 million.

Vapiano has 185 restaurants in more than 30 countries and plans to increase this to 330 by the end of 2020. It also wants to develop its take-away food and home delivery businesses.

($1 = 0.8936 euros) (Reporting by Maria Sheahan; Editing by Mark Potter)

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