Rocket Internet gathers 1.5 billion euro

Rocket Internet gathers 1.5 billion euro

Alibaba's strong Wall Street debut has helped investors' interest in other online sales platforms. German Rocket Internet, the company which runs Zalando among other things, can gather 1.5 billion euro from investors.

A lot of investor interest

 

It had originally planned to use the Frankfurt stock exchange to attract 750 million euro. It wanted to use that money to help expand the companies in which it has invested and to help new companies.

 

As investors are very interested in its shares, the amount has now been raised to some 1.5 billion euro. Several large investors have already committed to buying 582.5 million euro in shares.

 

Largest German IPO

 

With the increased offer, Rocket Internet's IPO will become the largest in Frankfurt this year. It will only sell new shares as the current shareholders will not sell part of their shares.

 

Investors can commit to buying shares until 7 October, even though the price will only be decided at the end. The price will probably be somewhere between 35.2 and 42.5 euro per share.

 

Oliver, Alexander and Marc Samwer - three brothers - founded Rocket Internet in 2007 and it managed a 72.5 million euro turnover last year.

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