Startup Factory Rocket Internet to Delist After Value Drops
- German company says need for public markets has diminished
- Company will offer 18.57 euros each in cash for its shares
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Rocket Internet SE, the German company that aims to create and list tech startups, said it plans to withdraw its shares from the Frankfurt and Luxembourg stock exchanges after the value of its stock dropped about 15% this year.
The company will offer 18.57 euros each for the shares, and will repurchase as much as 8.84% of its stock on the exchange through Sept. 15, Rocket said in a statement on Tuesday.