In 2006, Air Berlin went public on the Frankfurt Stock Exchange. Originally scheduled for 5 May 2006, the IPO was postponed to 11 May 2006. The company said the delay was due to rises in fuel costs and other market pressures limiting investor demand. It reduced the initial share-price range from 15.0–17.5 euros to 11.5–14.5 euros. The stock opened at €12.0, selling a total of 42.5 million shares. Of these, 19.6 million were new shares increasing capital in the company, and the remainder to repay loans extended by the original shareholders and invested in the company earlier in 2006. After the IPO, the company claimed to have over 400 million euros in cash to fund further expansion, including aircraft purchases.