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Home Business Rocket Internet Aims to Riase $968 Million from its IPO

Rocket Internet Aims to Riase $968 Million from its IPO

by Sam Wakoba
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rocket-internet-logoRocket Internet, the Berlin-based firm behind Jumia, Kaymu, Hellofood, Lamudi, Carmudi and several others yesterday published its prospectus of its upcoming IPO after approval from the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht BaFin).

In a statement, Oliver Samwer said,”The IPO is the next logical step for us, as we are determined to become the leading Internet platform outside the US and China.”

The global internet builder aims to raise sale new shares of 35.50 to 42.50 euros each a share, raising as much as 1.47 billion euros, or $1.89 billion on its October 9 IPO which will see the firm stand at $7.8 billion value, making it Germany’s largest tech I.P.O.

The firm aims to use the IPO proceeds to launch and finance new startup across the world and as well fuel its existing ones. The EUR 35.5-42.5 share price will put Rocket Internet’s pre money valuation at  EUR 4.3bn to EUR 5.1bn on a fully diluted basis.

The 750 million euros ($970 million) IPO will comprise of only new shares and will make the Samwer brothers  millionaires.

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