DGAP-News

​​​​​​​fashionette AG sets offer price for its IPO at EUR 31.00 per share - Seite 2

Assuming full exercise of the greenshoe option, the total volume of the IPO amounts to approximately EUR 112 million. The Company expects that its gross proceeds from the capital increase will amount to EUR 37 million. fashionette intends to use the net proceeds from the IPO primarily to spur growth of the existing business through marketing and customer acquisition initiatives, to pursue selected acquisitions in order to drive regional and category expansion and to make specific IT-platform investments.

Based on the offer price, fashionette's market capitalization amounts to EUR 192 million. Upon completion of the IPO and assuming full exercise of the greenshoe option, GENUI will continue to hold 37% and Management 5% of the Company's shares, and the expected free float will amount to 58%.

Daniel Raab, CEO of fashionette, said: "We are very proud to have made the leap to the stock market. The high demand from investors nationally and internationally shows great confidence in the future potential of fashionette AG and is a special motivation for us to consistently pursue our goal of becoming the leading online platform for premium and luxury fashion accessories in Europe. We will use the raised capital for targeted investments to accelerate our growth."

Trading in the shares in the European growth segment "Scale" of the Frankfurt Stock Exchange is expected to commence on 29 October 2020. Delivery of the sold shares is expected to take place on 30 October 2020.

Allocation rules for the public purchase offer to retail investors

Due to the oversubscription of the offer, not all purchase offers from retail investors could be considered as part of the allocation.

The purchaser offers submitted via the subscription functionality "DirectPlace(R)" of the Frankfurt Stock Exchange ("Subscription Functionality") were handled according to the following allocation formula: Only offers which were submitted at a minimum final offer price of EUR 31.00 per share were allocated; subscription orders for less than 15 shares were not allocated; subscription orders of more than 15 shares were allocated 40 per cent of the respective subscription order (at least 15 shares), whereby rounding was used.