Talanx shares rise in off-again, on-again IPO

FRANKFURT, Oct 2 (Reuters) - Shares in Talanx , Germany's third-biggest insurer, rose 4.1 percent in the first minutes of trading following their debut on the Frankfurt stock exchange, with the flotation seen as testing the health of Europe's fragile IPO market.

Shares in the group started trading at 19.05 euros per share on Tuesday, higher than the offer price of 18.30 euros.

Talanx, which had been planning a flotation for more than a decade, surprised markets last month by announcing its IPO, then cancelling it, then reviving it within days, in the face of uncertain investor interest.

The insurer pared back the originally planned volume of around 700 million euros ($903.35 million)and late on Monday said it planned to raise at least 467 million euros in the IPO.

($1 = 0.7749 euros) (Reporting by Jonathan Gould)

((Jonathan.Gould@thomsonreuters.com)(+49 69 7565 1242)(Reuters Messaging: jonathan.gould.thomsonreuters.com@reuters.net))

Keywords: TALANX IPO/