I have a really stupid question about $VLTO WI (+2,25 %) ...

The share was booked into my account last year as a spin-off from Danaher.

Trade Republic shows me a buy in of 153€.

This means that the share was in fact deeply in the red right from the start. I simply left it in the portfolio, the return has made up quite a bit since then. The stock isn't doing badly either, even if there's only a small amount of money in it (I own 1.5 shares)

But can someone explain to me why the share was booked so high, even if it has never reached the value? Thank you very much!