French online seller Showroomprive.com will head to the stock exchange. With the money it hopes to raise, it will try to strengthen its position outside France in an attempt to fight off competition.
373 million euro
Showroomprive.com will appear on the Euronext stock exchange in Paris on 30 October and hopes to attract 373 million euro. A share will cost 19.5 to 26.3 euro, meaning the company's entire value is estimated to be 660 to 870 million euro.
Most shares will come from the founders, Thierry Petit and David Dayan, who currently own 59 %. Investor Accel Partners, which own 31 % of the company, will also sell shares and the company will also issue new shares.
Showroomprive.com mainly wants to use the money to compete with Vente-privee. Both web shops use an identical system, where remaining (mostly fashion-related) stock is sold at a lower price. Showroomprive.com mainly hopes to continue its expansion outside France.