FRANKFURT (Reuters) – Shares of online fashion retailer About You AG were listed at 23 euros each for its scheduled IPO, valuing the German trading group at 3.92 billion euros ($ 4.75 billion ), he announced on Monday.
The offer price is slightly below the midpoint of a range of 21 to 26 euros per share, disclosed last week. The offering of new and existing shares in the Hamburg-based start-up, assuming full use of the over-allotment option, will be worth € 842 million, a free float of 21%. The first day of trading is scheduled for Wednesday.
This includes € 657 million in new shares sold in a private placement to shortlisted investors to fund its efforts to build a global fashion e-commerce platform.
About You, which operates in 23 European markets, competes with Zalando in the consumer segment while its B2B platform pits it against Shopify, SAP and Salesforce.
About You reported 57% revenue growth to 1.17 billion euros in the year through February and achieved its first positive basic profit in the last quarter since launching in 2014 .
The company is backed by mail order group Otto and Danish magnate Anders Holch Povlsen.
Deutsche Bank, Goldman Sachs and JP Morgan act as joint global coordinators and joint bookkeepers, Numis Securities, Société Générale and UBS Investment Bank also act as joint bookkeepers. ($ 1 = 0.8211 euros)
($ 1 = 0.8252 euros)
Reporting by Ludwig Burger; Editing by Aurora Ellis
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