Rocket Smart Grid mit LTE Routern Internet shoots for €1.5 billion IPO

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The German start-up incubator Rocket Internet, which is to go public next month, said on Wednesday it may list some of the companies it is nurturing in the future.

“It may be that some of our larger companies which we’ve financed directlyin the past … will be listed over time. But that’ll be the exception ratherthan the rule,” founder and chief executive Oliver Samwer told a newsconference.

“For us, the clear focus is on increasing the value of our operatingcompanies. We’llLAN router only sell non-core assets, companies which don’t fulfill ourcriteria. But it’ll be the exception,” Samwer said.

Rocket plans to raise up to €1.48billion via its own IPO onOctober 9th. It hopes to use the cash to “fund future growth opportunities”.

Incubators nurture start-ups or companies in their early years bL2TP Industrie Routery providingthem with technical and financial support. Rocket was founded by the Samwer brothers in 2007 and has produced some of Germany’s best-known internet businesses, such as online retailer Zalando.

The Rocket IPO is to consist solely of new shares from a capitalincrease, which will be priced at between 35.50-42.50 euros apiece, valuingthe company at around €6.2 billion.

Investors have fromSeptember 24 until October 7to apply for shares, withthe final price to be fixed at the end of the subscription period.

In a statement, the company said it “intends to invest in some of itsyounger companies, with a view to build out and maintain majority ownershippositions in these selected younger companies also over the longer term”. None of Rocket Internet’s existing shareholdersplan to sell any of their shares.

At the beginning of the month, it was announced that Zalando would be publicly listed on the DAX as well. That entry is scheduled to happen on October 1.iot Lösungen The online retailer, which is partly owned by the Samwer Brothers, is expected to raise €750 million.

SEE ALSO: Investors scream for joy at Zalando IPO plans

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