Zalando wants banks to prepare IPO | RetailDetail

Zalando wants banks to prepare IPO

Zalando wants banks to prepare IPO

According to the British paper The Sunday Times, Zalando has asked three banks to prepare an Initial Public Offering that might rate the company at some 5 billion euro, making it the largest technological IPO of the century.

Largest tech IPO since 2000

That would make it the . Apparently, Goldman Sachs, JP Morgan and Morgan Stanley have been asked to prepare the move. The first indications of Zalando’s intentions were revealed late last year, when certain leaked documents indicated that Zalando’s management would only get 1.4 % of all shares.

 

Right now, Swedish investor Kinnevek is Zalando’s largest shareholder with 37 %. Russian billionaire Yuri Milner and Anders Holch Povlsen own large sections of Zalando. Povlsen also owns Bestsellers, which has subsidiaries like Jack & Jones and Vero Moda.

 

In the first part of the current fiscal year, Zalando had an 809 million euro turnover, with an expected full year turnover of 2 billion euro. The company refuses to comment on the article in The Sunday Times, but has stated in the RetailDetail Magazine that it would only head to the stock exchange when it was ready to do so. It also mentioned that no definitive decision had been made at that point.

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