Rocket Internet SE announces an Equity Buyback for 11,996,721 shares, representing 8.84% for €222.78 million.
September 01, 2020 at 01:17 am EDT
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Rocket Internet SE (XTRA:RKET) announces a share repurchase program. Under the tender offer, the company will repurchase up to 11,996,721 shares, representing 8.84% of its share capital for a total of €222.78 million. The shares will be purchased at a price of €18.57 per share. The company intends to consummate the offer as a delisting self-tender offer required for the delisting of its own shares from trading on the regulated market of the Frankfurt Stock Exchange. The tender offer is subject to shareholders approval at its General Meeting to be held on September 24, 2020. The offer will expire on October 30, 2020.
Rocket Internet SE is a Germany-based company active in the investment management and fund operator industry. The Company identifies, builds, scales and retains ownership of Internet companies. It mainly operates in three sectors: e-commerce, including retail companies in the areas of fashion, general merchandise, home and living, office supplies and food groceries; marketplace, comprising companies active in fields such as real estate, travel, transport and food delivery which offer buyers and sellers venues for direct transactions, among others; and financial technology, containing companies bringing together borrowers and lenders in areas like the consumer and small and medium-sized enterprise segments. As a holding company, Rocket Internet AG holds interests in operating subsidiaries divided into regional Internet groups entailing the geographic regions Africa, Asia Pacific, Latin America and the Middle East. The Company has a controlling interest in HelloFresh GmbH.