Germany-based online fashion retail giant Zalando will go public at a price of 21.5 euros per share, the company announced late on Monday, which is close to the highest end of the range set nearly two weeks ago. This gives Zalando an equity value of 4.9 billion euros or approx. $6.2 billion pre-money.
The company largest investor, Sweden's Kinnevik, sent out the following press release on Monday evening:
"Investment AB Kinnevik (publ) ("Kinnevik") today announced that Zalando has set the final offering price for its shares at EUR 21.50 per share, corresponding to an equity value of Zalando of EUR 4.9 bn pre money.
Assuming the over-allotment option is exercised in full, 28,147,656 new shares will be issued at a value of EUR 0.6 bn. The new shares issued, including the over-allotment option, correspond to 11.3% of Zalando's share capital.
Kinnevik's ownership stake in Zalando after the IPO will be 32.0%, equivalent to 78,427,800 shares. Assuming that the over-allotment option is exercised in full, Kinnevik's ownership will be 31.6%. Based on the final offering price, the value of Kinnevik's shares in Zalando is SEK 15.5 bn.
The Zalando shares will be traded on the regulated market (Prime Standard) of the Frankfurt Stock Exchange under the trading symbol ZAL, the German Securities Code (WKN) ZAL111 and International Securities Identification Number (ISIN) DE000ZAL1111 from 1 October 2014 onwards."