Mealbox delivery service HelloFresh’ share on the Frankfurt stock exchange managed to hold firm on its first day, hovering around 10.5 euro.
300 million euro
The company’s opening course was set at 10.25 euro and even reached 10.6 euro, but quickly dropped to 10.5 euro. Its IPO generated about 300 million euro, which is deemed a success. Considering its competitor Blue Apron’s abysmal American IPO, some analysts feared what could happen with HelloFresh.
The meal box delivery service can use the money to continue its growth: it had a near 600 million euro turnover last year, but also suffered a 90 million euro loss. It has 1.3 million subscribers worldwide and aims to become break-even by the end of next year.