Leica Camera Goes Public

Leica's market debut is the latest example of the trend for small and medium-sized German companies to raise new capital from the stock market rather than traditional relationship banks.

The success of last year's string of new issues, including those by the SGL Carbon, the graphite products company, and Adidas, the sports goods company, has whetted investors' appetite for Germany's under-developed stock market.

There have been fewer listings this year, mainly because of fears of being overshadowed by the gargantuan Deutsche Telekom issue in November. Analysts are nevertheless confident of strong demand for Leica's offering.