Fashionette’s shares will be issued at the IPO at EUR 31.00 each. The reference range was between EUR 30.00 and EUR 38.00. All 3.605 million shares offered will be placed. 1.2 million shares come from a capital increase, the other shares come from the existing shareholder Genui. The IPO was significantly oversubscribed at the set price.
The fashionette shares are first listed on October 29 in the Scale segment of the Frankfurt Stock Exchange. The market capitalization at the offer price is 192 million euros. The free float comes up to 58 percent if the over-allotment option is used.
A gross amount of 37.2 million euros came into the fashionette till. You want to grow with it. Investments in marketing and customer acquisition are planned. Acquisitions are also possible, and the company also wants to expand internationally.
Daniel Raab, CEO of fashionette, comments on the result of the subscription: “The high demand from investors in Germany and abroad shows great confidence in the future potential of fashionette AG and is a special incentive for us to make our goal of becoming the leading online platform for premium and to consistently pursue luxury fashion accessories in Europe. “