German online fashion distributor About You set the price range for its listing on the Frankfurt Stock Exchange on Tuesday between 21 euros and 26 euros per share, showing a maximum valuation of around 4 billion euros.
As part of this transaction, the Hamburg-based start-up will issue 28.6 million new shares worth € 600 million through a private placement, with a closing date of June 14. Listing on the Frankfurt Stock Exchange will start on June 16.
The proceeds from this transaction will be used to finance the group’s international development and its B2B (business-to-business) technological platform.
About You, present in twenty-three markets in Europe, competes in particular with its compatriot Zalando in the consumer segment, while its B2B platform rivals that of Shopify, SAP and Salesforce.
“We look forward to expanding our investor base as we pursue our vision of becoming the world’s leading fashion platform,” said Tarek Müller, co-founder of About You.
For the year ended in February, About You recorded a 57% jump in turnover to 1.17 billion euros. In the last quarter, the company also posted its first positive gross operating surplus (EBidta) since its launch in 2014.
About You, backed by German retail group Otto and Danish tycoon Anders Holch Povlsen, has also made several appointments to its supervisory board, which will be chaired by Sebastian Klauke, chairman of the Otto board.
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