Rocket Internet sets IPO range, targets up 6 billion euros value

Reuters News
Posted: Sep 23, 2014 1:53 PM

By Emma Thomasson

BERLIN (Reuters) - German venture capital group Rocket Internet, which has launched dozens of online start-ups, priced its initial public offering on Tuesday in a range of 35.50-42.50 euros per share, valuing the company at up to 6.2 billion euros($7.97 billion).

The Berlin-based company said in a statement it expects gross proceeds of approximately 1.477 billion euros, assuming it places the maximum number of shares at the mid-point of the price range.

Founded in 2007 by brothers Oliver, Alexander and Marc Samwer, Rocket is active in more than 100 countries, making revenue of $1 billion in 2013 via e-commerce and online marketplaces for everything from taxis to meal deliveries.

Zalando, Europe's biggest online fashion player that Rocket itself helped launch, is also planning an IPO which could value the company at up to 5.6 billion euros and has seen strong demand so far for its shares.

The two flotations will make billionaires of the three Samwer brothers who own 52.3 percent of the Rocket stock - as well as holdings in Zalando.

(1 US dollar = 0.7778 euro)

(Editing by Jonathan Gould)