Global Fashion Group lowers IPO offer price to 4.50 euros a share

Global Fashion Group, a ecommerce startup backed by Germany’s Rocket Internet on Wednesday trimmed back the offer price in its planned initial public offering (IPO) to 4.50 euros per share, it said in a statement.

The banks running the IPO had initially aimed to place shares at between 6 euros and 8 euros each.

On Tuesday, Global Fashion Group said it extended the offer period to June 28, and sources told Reuters that cancelling the listing had also been discussed.