Shares would likely cost 18.50 euros, the accompanying banks told potential investors shortly before the end of the subscription period. The price range was from 18.50 to 22.50 euros.
The initial listing on the Frankfurt Stock Exchange is planned for Wednesday. IONOS is the first major float in Europe since Porsche's (PSHG_p.DE) blockbuster debut in Germany last September.
The deal is seen as a test of investor appetite for new publicly traded companies after IPO activity plunged in 2022.
The bookrunner said the shares are multiple times oversubscribed at the aforementioned price and that books are to close on Feb. 7 at 1200 GMT.
(Writing by Friederike Heine; Editing by Paul Carrel and Arun Koyyur)
