BERLIN, June 16 (Reuters) – Shares within the on-line style retailer About You AG made its market debut within the Frankfurt inventory change on Wednesday, opening 11.3% above its supply value.
About You opened at 25.6 euros per share, in comparison with the supply value of 23 euros apiece, valuing the German buying and selling group at round 4 billion euros ($4.85 billion).
About You, which operates in 23 European markets, competes with Zalando within the client section whereas its B2B platform pits it in opposition to Shopify, SAP and Salesforce.
The Hamburg-based startup reported 57% income development to 1.17 billion euros within the yr to February, and within the final quarter achieved its first optimistic core revenue since its launch in 2014.
The corporate is backed by mail-order group Otto and Danish tycoon Anders Holch Povlsen.
Deutsche Financial institution, Goldman Sachs, and J.P. Morgan are performing as joint international coordinators and joint bookrunners, with Numis Securities, Société Générale and UBS Funding Financial institution additionally performing as Joint Bookrunners. ($1 = 0.8245 euros) (Reporting by Riham Alkousaa Modifying by Caroline Copley)