First Dax Float in Almost Two Years

For the first time in almost two years, a German company was floated on the country's stock exchange. Mitteldeutsche Fahrradwerke AG, or MIFA, a bicycle manufacturer from the eastern part of Germany, raised 14 million euros from its initial public offering, which according to the company, was three times oversubscribed. Although the MIFA float was tiny, market officials hope the positive reception it received signals a revival in the Dax's fortunes. On Wednesday, Wincor Nixdorf, a manufacturer of automatic teller machines and cash registers, also gets listed on the Dax. Logistics firm Hapag Lloyd and car maintenance company Auto-Teile-Unger are also waiting to make their market debuts.