Coolblue to choose Brussels for IPO?

Coolblue

Dutch e-tailer Coolblue is likely to make a second attempt to go to the stock market in the coming weeks. However, it is currently unclear whether this will be in Amsterdam or Brussels.

 

Belgian chances

Currently, co-founder Pieter Zwart owns 51 % of the shares, while investor HAL gradually increased its stake to 49 %. It is said to be the latter who now wants to sell (part of) its shares. 

 

In the coming weeks, Belgian individuals would get the chance to register for the IPO of the Rotterdam-based webshop, which according to Belgian newspaper De Tijd is aiming for a market capitalisation of three to six billion euros.

 

Halted in April

In February, the company announced its intention to go to the Amsterdam stock exchange, partly to finance its ambitious growth plans and its venture into energy supply. However, two months later, it was reported that the shareholders wanted to take more time to prepare for the IPO. 

 

The announcement by De Tijd regarding a specific entry procedure for Belgian private investors now leads some to suspect that not Amsterdam, but rather Brussels, would welcome the Coolblue flotation. 

 

Coolblue is on an impressive growth trajectory: the expansion into the French-speaking market increased the Belgian turnover by 48 % last year, to 553 million euros. Impressive growth was also recorded in the Netherlands, while the electronics retailer expanded into Germany as well: its German webshop opened last year, while the first physical store there is planned at the end of this year. There are already twelve physical stores in the Netherlands and five in Belgium.