September 15, 2016 / 1:00 PM / a year ago

German online pharmacy Shop-Apotheke files for Frankfurt IPO

FRANKFURT, Sept 15 (Reuters) - Online pharmacy Shop Apotheke is planning a Frankfurt stock market listing to raise cash for its expansion, it said on Wednesday.

The company aims to issue new shares worth roughly 100 million euros ($112 million), and existing shareholders will offer to sell some additional shares if demand proves strong, it said.

The listing may value the company at more than 300 million euros ($338 million), people familiar with the deal said. While the owners have not yet decided on the volume of shares to be offered, they are planning to keep at least 50 percent of the company.

Shop Apotheke, which competes with online pharmacy DocMorris , offers about 100,000 products online and has 1.5 million customers.

It booked 125 million euros in sales last year, and earnings before interest, taxes, depreciation, and amortization of 0.84 million euros in Germany, its largest market. It did not disclose earnings figures for the group.

Shop Apotheke was founded in 2001, sold to Dutch Europa Apotheek Venlo in 2010, which was bought out by its managers. Shop Apotheke was spun out of Europa Apotheek last year.

Citi, Berenberg and Commerzbank are handling the IPO. ($1 = 0.8874 euros) (Reporting by Arno Schuetze; Editing by Elaine Hardcastle)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below