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