Shares in Letsbuyit.com collapsed on the Neuer Markt on the
resumption of trading after its Dutch holding company announced on Friday it is to apply for a moratorium under Dutch law.
At 1 p.m. the stock was euro 0.61 euro or 48.80 per cent lower at euro 0.64, underperforming the all-share index, down 4.87 per cent at 2,609.92.
Shares had been suspended from trading on Friday after the announcement.
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"The company is practically at an end," said one dealer at a Frankfurt bank. "Investors are waiting to know if it will be taken over or if a partner will be found," he added.