The IPO of the German online shoe and apparel retailer Zalando has not leaked Wednesday on the big Zalando show that many followers of the company had expected.
De opening price was € 24.50 with appreciably higher than the offer price of € 21.50, but soon after trading on the Frankfurt Stock Exchange began, plunged into the price to a level just above the offer price. After a slight rebound in the afternoon, the share closed at € 21.48. Analysts had previously expected to price between € 24 and € 30 towards the financial news agency Bloomberg said an analyst at Kepler Cheuvreux it Zalando share at the current price still “feeling cheap. Zalando itself should the IPO as a setback experienced. Prior to the launch on Wednesday, the company said that it could put away than it did. Much more shares The demand for the shares of the company would have been ten times when supply so big.
The development of prices on the first trading shows that investors are not yet fully convinced that Zalando has what it takes to become. healthy profitable business in the long term Since the company was founded in 2008, achieved only a quarter (the last one) a small operating profit. The question that many people seem to sit well with, is how unique Zalando does exactly what it is. Is that customers unlimited expense Zalando can send back, ordered stuff once seen as a good service, but the group is further distinguished in any way from competitors such as British Asos. It also generous return policy is a major expense, since 50% of the stuff Zalando sends is returned.
T again -Online
The IPO of Zalando, which was already more than a year of speculation, was the largest of a German Internet company Since 2000, when brought telecom Deutsche Telekom’s T-Online to the fair. The valuation of the online shoe and clothing retailer was the introductory price of € 21.50 at over € 5.5 billion, well below € 8.5 billion that analysts at Citi prognosticeerden earlier this year. Since Zalando total only 11% of its shares were sold, won with € 605 million in the IPO. That money will use the company to invest in further growth. Also, the acquisition of other companies, especially in the technology area, close the Germans out.
Developments in the Frankfurt stock exchange were Wednesday with great excitement followed by the financial world. Particularly in Germany, the interest was great because Internet Rocket Internet company Thursday also brought floated. That company is majority owned by the three German brothers Marc, Oliver and Alexander Samwer, who also founded Zalando. The three still have 17% of the shares of Zalando in hands. Also at Rocket Internet, which 65% is owned by the Samwers would be any great demand by investors. It did the company decide not to make the previously scheduled date of October 9, its stock exchange debut but to advance to 2nd October.
Incubator
Rocket wants the shares for € 35.50 to € 42, 50 put in the market, which is the valuation at maximum € 6.5 billion can come true. The company provides 24% of its shares to the market and would thus collect more than € 1.5 billion. Rocket Internet is a so-called incubator that invests start-ups in the e-commerce area. It grew to copy. Recent years by successful business models of others They have created clones they put on to markets where the original was not yet active. In this way it has been set. Than 100 companies
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