German online furniture retailer Home24 is expected to price its initial public offering at €23 per share, Reuters reported June 12, citing a note to investors from the retailer's book runner.
"Orders below [23 euros] per share risk missing out," the book runner said in its note, according to the Reuters report.
The report noted that this pricing would give the company a market value of €625 million including an overallotment option after the stock market flotation. Berenberg, Citigroup and Goldman Sachs are the joint global coordinators and joint book runners for the listing.
On June 1, the retailer set the price range for the offering at €19.50 to €24.50 per share. Home24 said it was expecting fixed gross proceeds from the IPO of approximately €150 million along with proceeds from possible overallotments.
The company said it would issue 6,818,181 shares at the midpoint price range and 6,122,448 new shares at the high end.
The Berlin-based company's shares are expected to start trading on the Frankfurt Stock Exchange on June 15.
Home24 plans to use the proceeds from listing to invest in logistics, growth, property, equipment and technology. It also plans to repay its outstanding debt.
