Interest in the global fashion Group IPO may have been disappointingly lower than hoped for, but the company has now begun trading on the Frankfurt stock exchange and the true test of its appeal begins now.
Global Fashion Group raised less than half the sum it had originally targeted in an initial public offering of new shares that drew weak investor demand and ended up being mostly backed by its existing shareholders.
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.
Global Fashion Group (GFG), an online fashion retailer focused on Asia and Latin America, is postponing its initial public offering until July, which sources close to the matter said was due to low investor demand.
Zalora owner Global Fashion Group said Monday that it delivered a strong Q1 with year-on-year net merchandise value rising an impressive 22% to €341m on a constant currency basis, with active customers up 14.5% to 11.5m.
German e-commerce investor Rocket Internet will set up more companies in 2019 than last year, as investors raise questions about the company’s direction now most of its big holdings are listed or on track to go public.