German online retailer Zalando has announced the pricing of its shares at the upper end of expectations- €21.50 (£16.79)- kicking off a bumper week for the German technology market.
The six-year-old startup will make its market debut on the Frankfurt Stock Exchange on 1 October, floating 11.3 per cent of the business to raise €605m (£500m) and valuing the firm at €4.9bn (£3.8bn).
A rival to the UK’s Asos, Zalando is Europe’s largest online retailer.
Zalando executive Rubin Ritter said: "The feedback we received from investors and employees was great. The significant investor demand, which substantially exceeded the amount of shares offered, reflects confidence and high interest in Zalando and our long-term growth opportunity."
Fellow German internet company Rocket which also specialises in e-commerce will go public a day later, valuing the firm at €6.5bn.
The listings will have London on alert as it seeks to maintain its reputation as the tech capital of Europe.