Rocket IPO: Shares priced at €42.50 with €1.6bn valuataion

 
Lynsey Barber
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The Samwer brothers stand to make billions (Source: Getty)

Rocket Internet has priced shares for its initial public offering at the top of its range at €42.50.

The German internet firm will debut on the Frankfurt Stock Exchange on the 2 October, joining fellow German tech startup Zalando which went public a day earlier.

The float of just over 20 per cent of the business is expected to raise €1.4bn, valuing the firm at €1.6bn.

Rocket founder and chief Oliver Samwer, said: "We are very pleased with the positive response we have had from investors and their confidence in the strength of our business model, track record and growth prospects. I believe Rocket is extremely well placed to capture the opportunities for the growth of Internet commerce, particularly in the emerging markets, and to become the leading global Internet platform outside the US and China."

The venture capital firm and startup incubator was founded in 2007 by brothers Oliver, Alexander and Marc Samwer who hold a 65 per cent stake in the business. It is now active in more than 100 countries, with sales of $1bn in 2013 via e-commerce and online marketplaces for everything from taxis to meal deliveries.

The brothers also hold a 17 per cent stake in Zalando, which was left with a market value of €5.3bn on its first day of trading. Both IPOs will make them billionaires.

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