Shares in Infineon, the Siemens semiconductor subsidiary, nudged perilously close to their issue price on Wednesday, ramming home the message about the beleaguered state of the European technology sector.

Infineon, whose €6.07bn ($5.71bn) IPO last March still marks the biggest non-privatisation related listing ever in Europe to date, saw its share price fall to a 52-week low of €35.20. A mere 20 cents stood between the shares' value on Wednesday and their issue price of €35.