Down 60%, eDreams Odigeo shares try to escape post-IPO nightmare
April’s initial public offering for eDreams Odigeo quickly became a nightmare when the online travel agency conglomerate declared a profit loss soon after listing.
While eDreams Odigeo prefers to describe itself as the world’s largest online travel company in the flight sector, many investors think of it instead as Europe’s worst-performing IPO of 2014.
The Spanish company has seen its share prices fall 60% since its flotation, from 10.25 euro a share to 3.14 euro a share at the close of markets today.
Today’s quarterly conference call — a much-delayed report for earnings closed through June — failed to instill confidence in investors.