FRANKFURT: Zalando , Europe's biggest dedicated online fashion retailer, has set a price range for its initial public offering of 18.00 to 22.50 euros per share, it said on Wednesday, valuing the company at up to 5.6 billion euros (US$7.22 bln).
The company said it aimed to raise between 507 million euros ($655.20 million) and 633 million euros in the offer, including over-allotment shares.
The offering, which would represent about 11.3 percent of the company and value Zalando in total at up to 5.6 billion euros if all shares are placed, would represent one of Germany's biggest tech stock flotations for years.
The listing is part of a busy season for ecommerce IPOs in coming weeks, as Chinese giant Alibaba is set to list as well as German venture capital firm, Rocket Internet, which helped launch Zalando and remains a major stakeholder in it.
The company said it already had cornerstone investments of about 127 million euros, including from Scottish Mortgage Investment Trust Plc.
The offer period would start on Thursday, with the first day of trading planned for Oct. 1 on the regulated market of the Frankfurt Stock Exchange, the Berlin-based company said.
The final price will be based on a book-building process for a share offering that includes 24.48 million newly issued shares and 3.67 million additional shares available in the case of over-allotment.
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