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Online fashion retailer Zalando to list 10-11 pct stake
September 3, 2014 / 6:21 AM / 3 years ago

Online fashion retailer Zalando to list 10-11 pct stake

BERLIN, Sept 3 (Reuters) - Europe’s biggest online fashion player Zalando announced plans on Wednesday to list a stake in the business on the Frankfurt stock exchange this year, hoping to raise hundreds of millions of euros to help fund further expansion.

Zalando, which unveiled a new advertising campaign, website, packaging and apps last week at its first-ever news conference, wants to list a stake of 10-11 percent that could value the company at about 6 billion euros ($7.9 billion) in one of Germany’s biggest tech flotations for years.

The listing comes amid a flurry of e-commerce flotations this year, with Chinese giant Alibaba IPO-ALIB.N set to list this month as well as German venture capital firm Rocket Internet which helped launch Zalando and many other start-ups.

$1 = 0.7610 euro Reporting by Emma Thomasson; Editing by Maria Sheahan

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