The stock was stuck at EUR 0.78 on Thursday, valuing the group at EUR 1.32bn.
The state-controlled shipyard had priced at the bottom of its range and cut the number of shares it was offering by 36% following bookbuilding.
It said on Thursday it had received applications for 578m shares and decided to sell 500m.
It allocated these to 55,200 applicants, including 400m to the public, with institutional investors taking the rest.
Of
