Signa Sports United, the German-based parent of Tennis-Point and an array of online bicycle webstores, saw its share price close at €9.93 on Dec. 15, its first day of trading on the New York Stock Exchange. The stock price rose to €10.25 in after-hours trading. A total of 137,481 shares were exchanged at prices ranging from $8.82 to $10.50, representing a stock market capitalization of between $2.93 billion and $3.49 billion. The opening price of $9.07 gave the group a market capitalization of just over $3.0 billion, indicating a multiple of 1.6 times projected sales for the year ending next September. The stock opened at $9.90 on the morning of Dec. 16.

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