Online retailer listed in Prime Standard since today
Today’s listing of the Westwing Group AG (ISIN: DE000A2N4H07) is the 16th IPO on the Frankfurt Stock Exchange this year, Deutsche Boerse announced earlier today. The shares of the online retailer were listed in the Prime Standard segment and started trading at 26.49 Euro. The issue price was 26.00 Euro.
The company plans to use the proceeds from the IPO primarily for investments in the technology platform and on the customer experience as well as to drive international market growth.
The IPO was accompanied by Berenberg and Citigroup. Berenberg is also the designated sponsor in Xetra trading. Baader Bank is the market maker at the Börse Frankfurt venue.
According to Westwing, it is the leading online retailer for furniture and home accessories in Europe and achieved a turnover of around 220 million euros in 2017. The company was founded in 2011, has its headquarters in Munich and is active in eleven European countries.