Gabler Group shares fell below the?offer?price? in a debut at the Frankfurt Stock Exchange on Monday after rising earlier in the day.

The shares fell below the 44 euro offer price at 1349 GMT after reaching 49.1 earlier in the day.

At its final price, the company valued itself at 266 millions euros. Its main products are masts for submarines that use hydraulic and electrical systems.

The ?Luebeck-based company has 49.9% of shares in free float, with ?a combination of newly issued ?shares, ?existing shares from the holdings of majority owner Possehl ?Mittelstandsbeteiligungen and shares in ?connection with a greenshoe option amounting to ?a total placement value of ?around 132.8 ?million euros.

(source: Reuters)