The Zalando competitor About You expects to raise around 600 million euros in its planned IPO. The former Otto company would then be worth up to 4.4 billion euros.
The online fashion retailer About You has set the price range for its planned IPO at 21 to 26 euros per share. The company announced on Tuesday in Hamburg. In this way About You could raise at least 600 million euros through the initial public offering (IPO).
In the private placement on the Frankfurt floor, 28.6 million new shares from a capital increase and up to 8.4 million existing notes from previous owners are expected to be placed.
This includes a possible over-allotment option. This would bring the Otto subsidiary to a market value between 3.6 and 4.4 billion euros. The free float is expected to be between 21.2 and 21.7 percent of the outstanding share capital.
Online shopping with influencers and AI
The Zalando competitor also offers its customers a wide range of online shopping options and relies on a personalized shopping experience, for example with the use of artificial intelligence. With a focus on so-called influencers, the online retailer primarily wants to reach a younger target group.
The large German mail order company Otto founded About You in 2014 as a subsidiary; the online retailer, which also operates the edited.de website, is now part of the Otto Group’s portfolio. Even today, the Otto Group is still the largest shareholder.
About You wants to invest the proceeds in new technology
The company intends to use the money from the IPO to continue expanding. The proceeds could also be used for investments in technology.
The offer period for the private placement, during which only institutional investors can purchase shares, begins this Tuesday (June 8th) and is expected to end next Monday (June 14th). About You named Wednesday June 16 as the first day of trading.