FRANKFURT (Reuters) – Shares within the on-line trend retailer About You AG have been priced at 23 euros apiece for its deliberate inventory market itemizing, valuing the German buying and selling group at 3.92 billion euros ($4.75 billion), it mentioned on Monday.
The provide value is barely under the mid-point of a variety of 21 to 26 euros per share, disclosed final week.The providing of latest and present shares within the Hamburg-based startup agency, assuming full use of the over-allotment choice, will probably be value 842 million euros, leading to a free float of 21%. The primary day of buying and selling is slated for Wednesday.
That features 657 million euros in new shares offered in a personal placement to pre-selected buyers to fund its push to create a world trend e-commerce platform.
About You, which operates in 23 European markets, competes with Zalando within the shopper phase whereas its B2B platform pits it in opposition to Shopify, SAP and Salesforce.
About You reported 57% income progress to 1.17 billion euros within the yr to February, and within the final quarter achieved its first optimistic core revenue since its launch in 2014.
The corporate is backed by mail-order group Otto and Danish tycoon Anders Holch Povlsen.
Deutsche Financial institution, Goldman Sachs, and J.P. Morgan are appearing as joint international coordinators and joint bookrunners, with Numis Securities, Société Générale and UBS Funding Financial institution additionally appearing as Joint Bookrunners. ($1 = 0.8211 euros)
($1 = 0.8252 euros)
Reporting by Ludwig Burger; Modifying by Aurora Ellis