HelloFresh jumps 4.4% to €10.7 in Frankfurt debut

Thursday, 02. November 2017 12:08

A Berlin-based startup which produces and delivers ingredients with recipes in meal kits managed to launch an initial public offering in a second attempt, after failure in 2015. HelloFresh SE rose to as high as €10.7 per share on Thursday, compared to pricing of €10.25. The value still failed to top the upper limit of the intended range between €9 and €11.5.

The company, established in 2011, has a maximum of €318 to raise in the process, including a so-called greenshoe option of as many as four million additional shares for underwriters. The initial sale involved 27 million shares. The market valuation at the original price could reach €1.7 billion. The firm is backed by Rocket Internet SE. Other investors include Insight Venture Partners LLC and Baillie Gifford and Co. The stocks were 3.71% up at 12:06 pm CET, selling for €10.63.

Sector peer Blue Apron Holdings Inc. has debuted in New York four months ago, more than halving in value to $4.67 per share since then. The listing has been impacted by Amazon.com Inc.'s takeover of Whole Foods Market Inc.

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