Online fashion retailer Zalando announces the plan for a flotation on the stock exchange in the second half of this year. "Zalando SE is planning an initial public offering (IPO) on the regulated or prime standard market of the Frankfurt stock exchange," the German online retailer said in a statement. Zalando aims for 10-11% of its share capital to be listed once the IPO is completed. The offering will be via the issue of new shares. "Reaching break-even in the first half of 2014 is an important milestone which underlines the attractiveness of our business model," said Zalando board member Rubin Ritter.
According to the company the present Zalando stockholders will keep their shares. The five biggest shareholders are Investment AB Kinnevik (36%), Global Founders (17%), Anders Holch Povlsen (10%), DST Europe (8%) and Holtzbrinck Ventures (8%).
Zalando recently recorded black figures for the first time of the company’s history.