Zalando expects 500 million euro IPO

Zalando expects 500 million euro IPO

German Zalando expects to draw in at least 500 million euro at its IPO on 1 October. It will free up 11.3 % of its shares to do so.

Long-term growth

 

Zalando expects a 18 to 22.5 euro price range for its shares, which should total 507 to 633 million euro. The shares will be available from today and the company will become public on 1 October at the Frankfurt stock exchange.

 

On the eve of its IPO, Zalando has received a 127 million euro investment, which means that the web shop is now valued at 5.6 billion euro. Analysts had estimated it to be worth 7.5 billion euro however. The additional funds will be used to create long-term growth.

 

The first half of 2014 was Zalando's first profitable semester: its operating income reached 12 million euro (and a 1.05 billion euro turnover). It also altered its image, toning down its marketing campaign and tweaking its packaging in order to create a more mature image.

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