European online fashion retail giant Zalando has published its prospectus for its upcoming IPO and set the price range to 18 – 22.5 euros. This gives the company a valuation of roughly 5.1 billion euros ($6.6 billion) at the high end of that range.
This implies that Zalando has received approval from the German Federal Financial Supervisory Authority, clearing the way for its initial public offering on the Frankfurt Stock Exchange.
Major investor Kinnevik announced the news and price range late on Wednesday, indicating that the book value of its shares in Zalando will be higher than the Swedish investment firm had previously reported.
Kinnevik also said its shares in the Berlin-based e-commerce company will be subject to a lock-up period of 180 days from the first day of trading.
Rocket Internet, the other Kinnevik-backed venture about to IPO on the Frankfurt Stock Exchange, will likely publish its prospectus and expected price range in the coming days or weeks.
Also read: Inside Zalando (our recent profile of the company)
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