Conduit's debut on the Neuer Markt in Frankfurt yesterday proved to be a low-key affair, with the shares closing marginally above the €16 flotation price. Conduit shares initially traded down to a low of €15.40 before recovering to a high of €17.39. They closed up 20 cents on the day on €16.20. Turnover was just more than one million shares.

The marginal rise in the share price means that founders Mr Eddie Kerr and Mr Liam Young have shares in Conduit worth just under £40 million (€50 million).