Global Fashion Group finalizes its leap to the stock market for June 27
The company has established a range of between 5.35 pounds (6 euros) and 7.13 pounds (8 euros) for the starting price of its shares quoted on the Frankfurt Stock Exchange.
Global Fashion Group prepares its leap to the trading floor. The ecommerce group, owner of the platforms The Iconic, Zalora, Dafiti and Lamoda, has established a range of between 5.35 pounds (6 euros) and 7.13 pounds (8 euros) for the starting price of their shares, which will be listed on the Frankfurt Stock Exchange. The company has set for the next June 27 its leap to the trading floor.
The period to acquire the company's securities before going public, subject to the approval of the Financial Sector Supervision Commission of Luxembourg (Cssf), was established between June 18 and 25, according to the information released by the company in a statement.
The shareholders participating in the IPO of Global Fashion Group committed not to sell any stock during the first six months, and may lose a maximum of 20% of the shares they already own before the IPO.
The objective of the IPO is to raise 300 million to invest in technology and attract customers
The objective of this operation is that the company can raise about 300 million euros to be able to allocate technology in their business platforms, attracting customers and improving their delivery infrastructure for orders.
"Through this IPO, we can invest in further strengthening our end-to-end client proposal, continue our path to profitability and strengthen our position as the main fashion and lifestyle destination in growing markets" , have assured the CEOs of the company Christoph Barchewitz and Patrick Schmidt.
The company, owned by Rocket Internet, closed the year of 2018 with a growth of 5.5%, far from the 23.5% of the previous year. Sales stood at 1,555.9 million euros and the gross operating profit (ebitda) remained negative in the period, after recording losses of 49.8 million euros, almost fifty million euros less than in 2017.
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