HHLA shares surge on opening day of trading

HHLA shares surge on opening day of trading
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•   Hamburg cancels HHLA auction, opts for 30% IPO instead
Port of Hamburg operator Hamburger Hafen und Logistik AG (HHLA) saw its share price increase 17 percent on its first day of trading to close Friday at 62 euros ($89.79), up from the initial price of 53 euros.
   HHLA raised about 1.17 billion euros ($1.69 billion) from the listing of about 30 percent of its capital on the Hamburg and Frankfurt stock exchanges.
   The city state of Hamburg previously cancelled a 49 percent auction of HHLA involving the likes of Macquarie Bank, Hochtief AG, Deutsche Bahn and Dubai Ports World, before opting for the IPO.