> Germany's Continental launches IPO of car parts unit / 74X7764
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Germany's Continental launches IPO of car parts unit / 74X7764
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Description
Aumovio CEO Philipp von Hirschheydt celebrates his company’s listing on the Frankfurt Stock Exchange. Shares of Aumovio, a former division of Continental that manufactures car components including braking systems, sensors, and displays, began trading at around 35 euros each ($41), valuing the company at approximately 3.5 billion euros. “We mark the beginning of a new chapter,” says the chief executive. IMAGES AND SOUNDBITES