The Neuer Markt is next week expected to notch up its 300th listing just eight months after it passed the symbolic 200 company mark.

By the end of last week 91 companies had listed on the Neuer Markt since the beginning of the year, at a rate of more than three IPOs a week. If it can keep up the pace, it will easily beat last year's record of 140 IPOs. But the headline figures about the rocket-propelled growth of the Neuer Markt disguise a less happy tale for investors, issuers and bankers alike. Analysis by Financial News of the official listings data published by Deutsche Börse shows that 46 of these 91 companies - just over 50% - are trading below their issue price.