AWD Holding, the German financial services company that was forced to delay its Neuer Markt initial public offering at the beginning of this week, has priced its share offering at the bottom end of the indicated range.

The German firm, which put back its debut on Frankfurt's high-growth market until Friday amid concerns about risks that were undisclosed in its original prospectus, priced its shares on Thursday morning at €54 ($46). There were concerns about risks to investors involved in one of AWD's funds.