Shares of Vincorion, a German defence technology company backed by Star Capital, surged 13.5% on their Frankfurt Stock Exchange debut. The stock opened at €19.30, above the €17 offer price, giving the company a market value of approximately €980 million ($1.13 billion). The IPO was multiple times oversubscribed, reflecting strong investor demand.

Star Capital, a major shareholder, sold up to 20.3 million shares, generating proceeds of around €345 million. The transaction represents a significant liquidity event for the private equity firm. Cornerstone investors including Fidelity, Invesco, and T. Rowe Price committed to purchasing roughly one-third of the shares, providing crucial support for the offering.

The successful debut comes amid increasing investor appetite for defence assets, driven by rising military spending and geopolitical uncertainty. Vincorion's listing is part of a broader pipeline of European defence IPOs, as companies in the sector seek to capitalise on favourable market conditions and strong demand.