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    ZAL   DE000ZAL1111

ZALANDO SE

(ZAL)
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German fashion e-tailer About You seen listing at 23 eur/share - bookrunner

06/11/2021 | 03:18am EDT

BERLIN, June 11 (Reuters) - German fashion e-tailer About You is expected to price its stock market listing at 23 euros per share, in the middle of its marketing range, the bookrunners organising the deal said.

The Hamburg startup had set a price range of 21 to 26 euros per share and is scheduled to close books on June 14 and debut its shares on the Frankfurt stock exchange on June 16.

About You will sell new shares worth 600 million euros ($731 million) via a private placement as part of its flotation, and invest proceeds in international expansion and in its business-to-business (B2B) technology platform.

The company, which operates in 23 European markets, competes with Zalando in consumer categories while its B2B platform pits it against Shopify, SAP and Salesforce.

About You, backed by mail order group Otto and Danish tycoon Anders Holch Povlson, plans to sell 28.6 million new shares in the private placement, while existing shareholders will sell a further 8.4 million shares including an overallotment option.

Its free float is expected to be between 21.2% and 21.7% after the listing.

Deutsche Bank, Goldman Sachs, and J.P. Morgan are acting as joint global coordinators and joint bookrunners, with Numis Securities, Société Générale and UBS Investment Bank also acting as joint bookrunners.

($1 = 0.8205 euros) (Reporting by Arno Schuetze and Caroline Copley Editing by Mark Potter)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
DEUTSCHE BANK AG -0.70% 10.84 Delayed Quote.21.98%
SAP SE -1.27% 116.58 Delayed Quote.10.13%
SHOPIFY INC. -0.52% 1500.53 Delayed Quote.33.26%
SOCIÉTÉ GÉNÉRALE 0.37% 24.66 Real-time Quote.44.34%
THE GOLDMAN SACHS GROUP, INC. 0.98% 361.05 Delayed Quote.35.58%
UBS GROUP AG 0.07% 14.215 Delayed Quote.13.91%
ZALANDO SE -1.56% 98.78 Delayed Quote.10.20%
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Financials
Sales 2021 10 278 M 12 265 M 12 265 M
Net income 2021 239 M 285 M 285 M
Net cash 2021 1 443 M 1 722 M 1 722 M
P/E ratio 2021 109x
Yield 2021 -
Capitalization 25 291 M 30 209 M 30 182 M
EV / Sales 2021 2,32x
EV / Sales 2022 1,93x
Nbr of Employees 14 986
Free-Float 64,9%
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Mean consensus OUTPERFORM
Number of Analysts 32
Last Close Price 100,35 €
Average target price 101,89 €
Spread / Average Target 1,54%
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Managers and Directors
NameTitle
Robert Gentz Co-Chief Executive Officer
David Schneider Co-Chief Executive Officer
David Schröder Chief Financial Officer
Cristina Stenbeck Chairman-Supervisory Board
Jim Freeman Chief Technology Officer
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