Germany IPO: Bottom of Range for IONOS

German web hosting company IONOS on Tuesday priced shares for its initial public offering at the bottom of its target range, as investors took a cautious approach to the first major European flotation since carmaker Porsche in September.

IONOS’s shares will debut at 18.50 euros apiece when they list on the Frankfurt Stock Exchange on Wednesday, its parent company United Internet said in statement.

The stock’s target valuation ranged from 18.50 to 22.50 euros per share.

Should banks exercise an “Over-allotment” option to issue additional shares, United Internet and minority partner Warburg Pincus will reap total proceeds of 447 million euros from the IPO. The company will have a free-float of 17.3% if all shares are placed.

Source: https://www.reuters.com/markets/deals/germanys-ionos-expected-price-1850-euros-per-share-ipo-2023-02-07/

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Ionos Shares Fall Due To Soft IPO Market

Shares in United Internet AG’s web hosting arm Ionos SE dropped following the company’s debut on the Frankfurt Stock Exchange, the first test of the German exchange this year. Ionos fell to €18.14 at 9:20 a.m. in Frankfurt. That’s compared to a 0.8% gain in the Stoxx Europe 600 Index. That’s about half of what Ionos had originally targeted. Globally, the number of listings last year fell by almost half, according to data compiled by Bloomberg. The company, whose publicly traded peers include GoDaddy Inc. and Squarespace Inc., focuses on small and medium-sized enterprises in Europe and North America. Ionos also runs a fast-growing cloud business that competes with firms including France’s OVH Groupe SAS and New York-listed DigitalOcean Holdings Inc.. Full Story: https://www.bloomberg.com/news/articles/2023-02-08/germany-s-ionos-shares-fall-after-debut-in-quiet-ipo-market#xj4y7vzkg

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