Germany's IONOS eyes market value of up to 3.14 bln euros in IPO

Germany’s IONOS eyes market value of up to 3.14 bln euros in IPO

BERLIN, Jan 27 (Reuters) – German internet hosting agency IONOS targets a market capitalization of up to 3.14 billion euros ($3.41 billion) in its preliminary public providing, the primary main European IPO since sports activities automobile maker Porsche (P911_p.DE) in September.

Owners United Internet and Warburg Pincus are providing buyers shares in IONOS at 18.50 euros to 22.50 euros apiece, ensuing in whole proceeds of up to 543 million euros, majority proprietor United Internet stated in an announcement on Friday.

United Internet and minority accomplice Warburg Pincus are every providing 15% of their respective holdings. The free float, assuming placement of all supply shares, could be 17.3%.

“Depending on the ultimate supply worth and assuming placement of all supply shares, United Internet would obtain gross proceeds of between 336 and 408 million euros, whereas the full proceeds from the IPO are anticipated to be between 447 million and 543 million euros,” the assertion stated.

IONOS, which is predicated in Montabaur, Germany, is a internet hosting firm providing mass market internet hosting companies, domains, managed internet hosting and cloud purposes to shoppers and SMEs in international locations together with the U.S., Germany, UK, France, Spain and Poland. It was created in October 2018 via the merger of 1&1 Internet and ProfitBricks.

($1 = 0.9196 euros)

Reporting by Hakan Ersen, writing by Miranda Murray, enhancing by Kirsti Knolle

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