Kinnevik, Rocket step in to rescue GFG's IPO

Global Fashion Group, the emerging markets-focused online fashion retailer, has restructured its IPO on the Frankfurt Stock Exchange in the face of tepid investor demand, having dropped the price to €4.50, below the initial €6 to €8 range, and extended the bookbuilding process by two working days. The two largest shareholders in the company will also now buy half the shares on offer.

  • By Aidan Gregory
  • 26 Jun 2019
Kinnevik, the largest shareholder, and the second biggest investor in the company Rocket Internet, will now also buy €100m of shares as part of the IPO – half the base deal size at the new offer price. Kinnevik already owns 36.8% of the company and Rocket has a ...

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