February 6, 2018 / 11:17 AM / a year ago

Spain's Metrovacesa slumps on stock market debut

MADRID, Feb 6 (Reuters) - Shares in Spanish property developer Metrovacesa fell 7.3 percent in early trade in its stock market debut on Tuesday amid a global sell-off in equities with European shares hitting their lowest level in months.

Metrovacesa, which has around a fifth of its assets in the politically turbulent northeastern region of Catalonia, was trading at 15.25 euros per share at 12:06 p.m. (1106 GMT) - over a euro lower than its listing price of 16.5 euros.

Metrovacesa had already cut the expected range of its flotation price last week, and fixed the price at the bottom end of the lower range. (Reporting By Sonya Dowsett; Editing by Paul Day)

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