Directly from the dpa news channel
Dresden (dpa) – The online bicycle specialist Bike24 has set the price range for its IPO at 15 to 19 euros per share. In the course of issuing new shares, the company, which specializes in bicycles, bicycle accessories and clothing, announced on Tuesday in Dresden, gross proceeds of around 100 million euros are being targeted.
The company intends to use the money from the IPO to accelerate its growth and drive international expansion. The market capitalization based on the planned figures would be between 662 and 812 million euros.
In total, up to around 6.7 million new shares are to be issued as part of a private placement. In addition, there is the sale of up to 12 million existing shares, which are mainly held by the current major shareholder. The placement volume could also be increased by an upsize option of around 3.7 million existing shares, it said. In addition, there is an over-allotment option of up to 3.4 million papers under certain conditions.
The free float should be up to 58 percent when all shares are placed. The placement is scheduled to begin on June 16 and is expected to end on June 22. The first day of trading on the Frankfurt Stock Exchange is scheduled for June 25th.
© dpa-infocom, dpa: 210615-99-997274 / 2