FRANKFURT/LONDON: Shares in medical vials manufacturer Schott Pharma rose 11% on their trading debut on Thursday in Germany’s largest initial public offering (IPO) so far this year.

Shares in the company were changing hands at around 30 euros ($31.6) in morning trading in Frankfurt, up from the 27 euros paid by investors in the IPO, adding to signs that Europe’s IPO market is picking up.

Schott Pharma, a unit of Schott AG, has said the IPO, which counts Qatar Investment Authority (QIA) as a cornerstone investor, could raise up to 935 million euros ($982.50 million).

“It is a super start in the reopening of the IPO market after the summer,” said Christoph Heuer, co-head of equity capital markets (ECM) for Northern Europe at BNP Paribas, one of the banks leading the deal.