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Stock market debut for About You: Otto Group subsidiary valued at € 3.9 billion

Photo: The Mana­ging Direc­tors of About You Hannes Wiese (from left), Tarek Müller and Sebas­tian Betz
16. June 2021

Hamburg/ Frank­furt a. M. — About You cele­bra­tes its debut on the Frank­furt Stock Exchange today, Wednes­day, June 16. The offer price for the private place­ment is set at 23.00 euros per share. CEO Tarek Müller holds a share of 4.3 percent, Sebas­tian Betz 3.7 percent and Hannes Wiese 2.7 percent.

The offer price for the private place­ment is 23.00 euros per share. The Otto Group subsi­diary is thus valued at 3.9 billion euros.

Accord­ing to Textil­wirt­schaft, the foun­ders hold the following shares: Tarek Müller has a share of 4.3 percent, Sebas­tian Betz 3.7 percent. Hannes Wiese has 2.7 percent. Howe­ver, the trio intends to sell just under 3.3 million shares, which will bring them a total of 76 million euros. After the private place­ment, Müller, Betz and Wiese will have stakes of 3.0 percent, 2.6 percent and 1.7 percent respectively.

Net, 627 million euros remain. — In addi­tion, from the holdings of the exis­ting owners GFH (Gesell­schaft für Handels­be­tei­li­gun­gen mbH), Seven­Ven­tures GmbH, GMPVC German Media Pool GmbH and Fashion Media Pool GmbH, up to 4.8 million ordi­nary bearer shares will be gran­ted as an option to cover over-allo­t­­ments (green­shoe option).

The IPO will gene­rate gross proceeds of 657 million euros for About You. Net, 627 million euros remain. The company plans to spend 150 million euros on inter­na­tio­nal expan­sion, 115 million euros on tech­no­lo­gi­cal infra­st­ruc­ture and 50 million euros on the further deve­lo­p­ment of its B2B tech­no­logy divi­sion. 80 million euros is to be used to repay share­hol­der loans. About You is also consi­de­ring acqui­si­ti­ons. 80 million euros is reco­gni­zed as a reserve for M&A transactions.

Tarek Müller, Co-Foun­­­der and Board Member Marke­ting & Brand: “Today is a great day for About You. Toge­ther with some of the world’s most renow­ned brands and compa­nies, we are now part of the exchange family. Today we cele­brate the success­ful listing of About You, but our focus is already fully on the future.”

In addi­tion to Deut­sche Bank, Gold­man Sachs and JPMor­gan , Numis Secu­ri­ties, Société Géné­rale and UBS also suppor­ted the IPO.

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