home24 SE listed on Frankfurt Stock Exchange

Online furniture store listed in Prime Standard segment / Sixth Deutsche Börse Venture Network IPO

home24 SE (ISIN: DE000A14KEB5) listed on the Frankfurt Stock Exchange today, making it the sixth start-up from Deutsche Börse’s Venture Network to go public in Frankfurt. The online furniture store listed in the Prime Standard and achieved an initial listing price of €28.50 following an issue price of €23.00. This takes the number of IPOs in Frankfurt since the beginning of the year to eleven.

According to company sources, home24 will use the funds generated by the IPO to fund the introduction of a mature marketing approach, continuous forward integration in the supply chain, and investments in fixed assets, such as machinery and technology. The Berlin-based company recorded sales of €276 million in 2017. home24’s staff of 1,000 is employed in Germany, France, Austria, the Netherlands, Switzerland, Belgium and Italy, as well as Brazil. Prior to the IPO, Rocket Internet SE (ISIN: DE000A12UKK6) was the company’s largest shareholder, with a 41.22 percent stake.

Berenberg, Citigroup and Goldman Sachs managed the IPO. Berenberg and Goldman Sachs are also designated sponsors for Xetra trading. Trading specialist on the Börse Frankfurt venue is Baader Bank.

Read Also: