KARLSRUHE/MONTABAUR (dpa-AFX) - Internet and telecoms group United Internet and financial investor Warburg Pincus have set the price range for the planned IPO of its hosting subsidiary Ionos. Up to a total of 17.3 percent of the shares in Ionos are to be offered for a unit price of 18.50 to 22.50 euros, United Internet announced in Montabaur on Friday. Including the over-allotment option, the offer comprises up to 24.15 million shares in the web hosting specialist. United Internet can expect gross proceeds of up to 408 million euros, which could amount to a total of 543 million euros for the former owners. The subscription period is expected to begin on January 30, with the first trading day scheduled for February 8.

At the upper end of the price range, the market valuation of Ionos could reach up to 3.15 billion euros. This means that the value is not as high as the former owners probably hoped. In December, the news agency Bloomberg reported with reference to informed persons that the existing shareholders were hoping for a valuation of up to 5 billion euros - on this Friday, however, it was already reported that the owners were aiming for up to 3.4 billion. United Internet so far holds a good three quarters of the shares, Warburg Pincus the rest. United Internet is to remain majority shareholder after the IPO./men/mis