Delivery Hero sets date, price range for IPO

Delivery Hero releases more details about their upcoming IPO.

Rocket Internet's Delivery Hero's initial public offering is taking shape: The company announced Monday it expects to offer shares on the Frankfurt Stock Exchange on June 30.

"The price range for its planned initial public offering [is] at €22 - €25.50 (approximately $24- 29) per share," a press release says.

The best case scenario for Delivery Hero would bring in €927 million, with 18,950,000 new registered shares added to the 15 million shares already among existing shareholders. If shares fall in the middle range, the company could make around €450 million.

Rocket Internet, which owns 35 per cent of the company's shares, stands to benefit greatly from the IPO.

Since founding in 2011, Delivery Hero received over €1.75 billion from investors. In 2016 sales amounted to €297 million, but the company saw an overall loss of €202 million.

“The expected launch of our IPO is an important and exciting next step for us. We will continue our successful journey as a listed company and will seek to further expand our global leadership position in the online food ordering and delivery market," Niklas Östberg, Delivery Hero's CEO, is quoted as saying.

This article originally appeared on Gründerszene (German).

Photo credit: Delivery Hero

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