Germany-based e-commerce company Zalando set the range for its forthcoming initial public offering last week between €18 ($23.10) and €22.50 ($28.90), and could raise up to $813m.
Zalando sells women’s shoes and fashion online to customers in 15 European countries, and will use the proceeds from the offering to continue expansion.
HV Holtzbrinck Ventures, the corporate venturing arm of publisher Georg von Holtzbrinck, owns a 7.6% stake of Zalando, while retail chain Tengelmann holds a 5.6% share through its own corporate venturing unit, Tengelmann Ventures.
Other notable shareholders are investment firm Kinnevik (35.6%), Global Founders Fund (16.7%), Denmark-based fashion company Anders Holch Povlsen (10.5%), investment firm DST Global (8.1%) and Len Blavatnik (3.6%).
Morgan Stanley, Goldman Sachs International and Credit Suisse are the coordinators of the IPO, and are also acting as joint bookrunners alongside Deutsche Bank and J.P. Morgan. Jeffries and Stifel are acting as the co-lead managers for the offering.