, Columnist
A Whizzbang Withdrawal From Rocket Internet
A Kinnevik retreat might not be great for disclosure.
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Oliver Samwer is getting what he wanted: more freedom over how to run Rocket Internet SE, the German startup factory he founded. One of his earliest backers, Kinnevik AB, has sold half of its Rocket stake, giving up its standing as the biggest outside shareholder after Samwer and his brothers. Investors were better off when Kinnevik had more influence.
Kinnevik sold 10.9 million shares overnight for 19.25 euros each, a 10 percent discount to the closing price, raising 207 million euros ($218 million). That's just under half the Rocket share price of 42.50 euros at its 2014 IPO.