By  on July 25, 2007

MILAN — Aeffe SpA shares fizzled in their stock market debut Tuesday, losing 4.6 percent on their first day of trading.

Already last week it was evident the IPO, Italy's first fashion stock market offering in years, wasn't sparking a great deal of investor interest. Despite demand for nearly double the amount of shares on offer, Aeffe shares were priced at 4.10 euros ($5.66 at current exchange) a share, the bottom end of the initial valuation range.

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