IPO day for Scout24: German online classifieds group valued at €3.2 billion on stock market debut

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German digital classified ads company Scout24 started listing its shares on the Frankfurt stock market today. Priced earlier at 30 euros per share, the company had a successful debut on the exchange as shares quickly rose above the offering price.

The IPO gives Scout24 a market value of around €3.2 billion ($3.6 billion). The total issue volume – including greenshoe – was approximately €1.16 billion.

A total of 38,640,000 shares were placed, Scout24 clarified. Thereof, 7,600,000 shares result from a capital increase, corresponding to €228 million in gross proceeds for the Munich-based company.

In addition, a total of 26 million secondary shares were placed by Deutsche Telekom (Scout24’s former owner), Hellman & Friedman, Blackstone and other current shareholders.

Scout24 operates leading digital marketplaces dedicated to the real estate (ImmobilienScout24) and
automotive sectors (AutoScout24) in Germany and other selected European countries.

Its IPO was accompanied by Credit Suisse and Goldman Sachs. The prospectus can be found here (PDF).

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