German e-commerce company Windeln.de has gone public on the Frankfurt stock exchange today, in another European tech IPO that's largely remained under the radar so far (also see the recent IPO of Swedish eye-tracking tech company Tobii).
A total of 11.4 million shares were placed in the Windeln.de IPO. The total issue volume, including greenshoe, was approximately €211 million. The issue price was €18.5 per share, but the initial listing price was slightly lower at €18 and it seems like the price is dropping even more this morning.
Windeln.de's market capitalisation is currently hovering just south of €426 million.
Windeln.de, founded in 2010 and based in Munich, is a (loss-making) pure-play online retailer specialising in baby and toddler products in Germany, Austria and Switzerland. The company offers approximately 100,000 products from some 1,000 brands today.