Home Business AB Kinnevik Confirms Rocket Internet IPO Plans

AB Kinnevik Confirms Rocket Internet IPO Plans

by Sam Wakoba
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You’ve have been right all along, Rocket Internet has been raising cash to bolster its valuation and increase investor confidence before it’s alleged initial public offering (IPO) to finance its future growth through the launch of new businesses and fuel its companies globally.

Today, Investment AB Kinnevik has confirmed the rumours that have been reported in atleast every media firm I know of. Rocket Internet AG is set to have its IPO on the Frankfurt Stock Exchange later this year.

According to Lorenzo Grabau, CEO of Kinnevik, “Kinnevik is very supportive of Rocket Internet’s intention to list. Our partnership with Rocket, which goes back to 2009, has created substantial value for our shareholders and has contributed to the transformation of our portfolio. We look forward to continuing to work with the Rocket team as the company pursues its exciting growth strategy to build the world’s leading Internet platform outside of China and the United States.”

Investment AB Kinnevik has invested in companies in Communications, e-Commerce, Entertainment and Financial Services sectors and owns over 50 companies in more than 80 countries globally. AB Kinnevik and other shareholders in Rocket Internet (Global Founders, Access Industries, Philippine Long Distance Telephone Company, United Internet and HV Holtzbrinck Ventures) won’t lose any of their shares as the offering will consist solely of new shares from a capital increase.

However, the new shares will be of the same class and bearing the same rights as shares held by current Rocket shareholders and they will not sell out any of their shares for at least twelve months. Just recently, China’s Amazon Alibaba announced an IPO.

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