Shares in Deutsche Börse fell below their issue price on Thursday for the first time, making it the first listed stock exchange in the world to trade below its issue price.

The drop underlines concerns at the time of Deutsche Börse's €1.1bn initial public offering last month that it was being too aggressive in its valuation. The final valuation of €3.3bn ($2.95bn) was nearly 50% higher than Deutsche Börse's expected valuation in early 1999, when it pulled its planned IPO because of its merger talks with the London Stock Exchange.