Scale Market Report: Three debuts at once
Pfisterer, Innoscripta, Tin Inn – the Scale segment has seen three new additions. And since the low in April, prices have also been on the rise. For the successful Datagroup, everything looks set for a takeover.
17 June, 2025. FRANKFURT (Börse Frankfurt). There is good news from the Scale segment: On the one hand, the upward trend is continuing. On Tuesday morning, the Scale All-Share Index stood at 1,245 points, up from 1,224 points a month ago. This represents an increase of 12 percent since the beginning of the year. Secondly, the segment for small and medium-sized companies is growing again. There were three new additions.
On May 14, power grid equipment supplier Pfisterer (DE000PFSE212) made a successful IPO. Since then, things have been going well: after an issue price of €27 and €30 at the start of trading, the share now costs €38.45. The company, which was previously family-owned and based near Stuttgart, reported a strong first quarter in 2025 at the end of May and predicted positive development for the year as a whole.
Bumpy stock market debut for Innoscripta, Tin Inn gains ground
The stock market debut of Munich-based software provider Innoscripta (DE000A40QVM8) on May 23 was somewhat mixed. The offering price was €120, but the stock came under pressure on its first day of trading and is currently trading at €85.60. The company specializes in software for research and development projects, with documentation that complies with tax regulations.
Tin Inn (DE000A40ZTT8) has also been listed since May 19. After an initial price of €6.90, the share is now trading at €9.36. Tin Inn describes itself as the only hotel group in the world that develops, produces, and operates its own buildings. All Tin Inn hotels have 20 standardized rooms made from recycled shipping containers. They are built in the company's own smart factory in Wassenberg near Heinsberg in North Rhine-Westphalia.
Good sales for newcomers to the stock market.
Steyr Motors (AT0000A3FW25) was once again the top performer in terms of sales in the Scale segment of the German Stock Exchange in May. However, at €37 million, sales were significantly lower than in March (€205 million), which had been an extremely strong month in terms of sales, as was already the case in April. It was followed by 2G Energy (DE000A0HL8N9), stock market newcomer Pfisterer, The Platform Group (DE000A2QEFA1), Mensch und Maschine (DE0006580806), and the second stock market newcomer, Innoscripta.
Steyr: Still more than tripling in price
Steyr Motors (AT0000A3FW25) continued to move sideways. The share is currently trading at €49, slightly below the level of a month ago. The share price of the Austrian engine manufacturer, which is benefiting from the boom in defense spending, rose rapidly in mid-March to a peak of €430, then fell sharply again. However, since the beginning of the year, the share price has still more than tripled. Since Steyr has been listed on the stock exchange since the end of October 2024, Daldrup & Söhne (DE0007830572) is currently in the best position in terms of price performance over a twelve-month period, with a price increase of 50 percent. 2G Energy (DE000A0HL8N9), Aponitis Pharma (DE000A3CMGM5), which is now majority-owned by Zertiva AG, Ernst Russ (DE000A161077), and Swissnet (CH0451123589) have also performed very well, with price gains of between 31 and 38 percent.
Datagroup: Offer increased
Datagroup (DE000A0JC8S7) has been on an upward trend since the beginning of April. After reaching €36, the share price has now climbed to €60.40. Financial investor KKR wants to take over Datagroup and raised its offer from €54 to €56.50 per share at the beginning of June. The condition is that the acceptance rate must reach at least 80 percent of all outstanding shares; if it reaches 90 percent, the price will be €58. If the thresholds are not met, the price will remain at €54. Baader Bank considers the price to be far too low. It recommends buying the stock and sets a target price of 80 euros. It also states that KKR's increased purchase offer does not adequately reflect the company's true value. Quirin Bank, on the other hand, now recommends holding and considers the stock to be fairly valued at 58 euros.
Further recommendations for scale stocks
| Analyst firm/bank | Scale Company | Recommendation | Target Price in Euros | Current Price in Euros |
| Quirin Privatbank | Daldrup & Söhne | Buy | 18.00 | 12.35 |
| SMC-Research | Daldrup & Söhne | Buy | 15.30 | 12.35 |
| First Berlin | 2G Energy | Add | 35.00 | 32.25 |
| First Berlin | Deutsche Rohstoff | Buy | 48.00 | 39.20 |
| First Berlin | The Platform Group | Buy | 19.00 | 9.52 |
| Montega | The Platform Group | Buy | 17.00 | 9.52 |
| Montega | Ernst Russ | Buy | 10.00 | 7.18 |
| Montega | Cantourage | Buy | 13.00 | 6.24 |
| Montega | Cantourage | Buy | 13.00 | 6.24 |
By Anna-Maria Borse © 17 June, 2025, Deutsche Börse AG
About the Author
Anna-Maria Borse is a financial and business editor specializing in financial markets/stock exchanges and economic issues.
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