Kinnevik: Zalando plans IPO in 2014
Investment AB Kinnevik ("Kinnevik") today announced that Zalando will seek its initial public offering ("IPO") and listing on the regulated market (Prime Standard) of the Frankfurt Stock Exchange in 2014.
Zalando anticipates an offering of between 10 per cent and 11 per cent of total post-IPO capitalization. The offer, if pursued, is expected to consist solely of new shares from a capital increase of Zalando. Kinnevik currently owns 36% of Zalando.
In connection with the announcement, Zalando disclosed further descriptive and financial information, as well as a number of key performance indicators. For further information please refer to page 2-12 of this release and https://corporate.zalando.com/ .
"Kinnevik is delighted about Zalando's plans to list on the Frankfurt stock exchange. We first invested in Zalando in 2010 and since then have invested cash of SEK 5.5 billion to become the company's largest shareholder. We look forward to continuing to work with Zalando's founders and management team, and to support their future growth ambitions after the listing" comments Lorenzo Grabau, CEO of Kinnevik.
Kinnevik discloses the information provided herein pursuant to the Securities Market Act (Sw. lagen om värdepappersmarknaden (2007:528)). The information was submitted for publication on 3 September, 2014 at 8.00 am (CET).
For further information, visit www.kinnevik.se or contact:
|Torun Litzén, Director, Investor Relations
|Phone +46 (0)8 562 000 83
|Mobile +46 (0)70 762 00 83
Investment AB Kinnevik is a leading, long-term oriented, investment company based in Sweden. Kinnevik primarily invests in consumer centric businesses that provide innovative and value-added technology-enabled services. Our main areas of focus are the Communications, e-Commerce, Entertainment and Financial Services sectors. We own significant stakes in over 50 companies that operate in more than 80 countries across five continents, with a particular emphasis on growth markets. The Kinnevik Group employs more than 90 000 people around the world.
Kinnevik actively supports the companies in which it invests and plays an influential role on their respective Boards. Kinnevik was founded in 1936 by three Swedish families who continue to play a leadership role in the ownership of the Company and in the pursuit of its entrepreneurial ventures.
Kinnevik's shares are listed on Nasdaq OMX Stockholm's list for large cap companies under the ticker codes KINV A and KINV B.Press release
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Kinnevik via Globenewswire