German online retailer Zalando is looking to raise more than EUR500 million to fund expansion by listing a stake on the Frankfurt Stock Exchange.
The firm wants to list a 10-11% stake on the Frankfurt Stock Exchange, which would value the company at least EUR4.5 billion.
The company said the offering would consist solely of new shares from a capital increase.
The CEO of main shareholder Kinnevik, Lorenzo Grabau said: "Kinnevik is delighted about Zalando’s plans to list on the Frankfurt stock exchange. We first invested in Zalando in 2010 and since then have invested cash of SEK 5.5 billion to become the company’s largest shareholder. We look forward to continuing to work with Zalando’s founders and management team, and to support their future growth ambitions after the listing.”
Kinnevik owns a 36% stake in the online retailer.