Rocket Internet shareholders back delisting

home24 SE

24/09/2020 13:34

BERLIN, Sept 24 (Reuters) - Shareholders in German tech
investment company Rocket Internet  RKET.DE  voted on Thursday
to support its plans to delist its shares to allow the company
to pursue a more long-term approach to investing.
    Investors have long suggested that Rocket Internet, with a
market capitalisation of 2.6 billion euros ($3.03 billion),
would be better off going private again since it successfully
listed all the major firms it helped found, including Delivery
Hero  DHER.DE , HelloFresh  HFGG.DE  and Home24  H24.DE .
    Listed on the Frankfurt stock exchange in 2014, Rocket's
shares have mostly traded well below their issue price of 42.50
euros and below the combined value of the cash on its balance
sheet and its own valuation of its remaining investments.
    Oliver Samwer, the company's founder and chief executive 
whose investments in tech companies have made him one of
Germany's richest men, will hang on to his 4.53% stake in the
company, as would his Global Founders fund which holds 45%.


($1 = 0.8577 euros)

 (Reporting by Nadine Schimroszik
Editing by Riham Alkousaa)
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