Zalando to Raise Up to $815 Million in German E-Commerce IPO
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German online fashion retailer Zalando SE plans to raise as much as 633 million euros ($815 million) in an initial public offering Oct. 1, marking the country’s most significant e-commerce IPO to date.
Europe’s largest online-only fashion and shoe retailer plans to sell as many as 28.1 million shares in Frankfurt at a price of 18 euros to 22.50 euros each, the company said in a statement last night, a near-final step before the start of trading next month. Zalando, started in 2008, would have a value of 5.6 billion euros ($7.2 billion) at the high end of the range if an over-allotment is exercised, marking a watershed event for Berlin’s burgeoning tech startup scene.