Germany's IONOS eyes market value of up to 3.14 bln euros in IPO (updated)

United Internet AG

27/01/2023 07:30

(Adds market cap, total proceeds, background)
       BERLIN, Jan 27 (Reuters) - 
    German web hosting firm IONOS targets a market
capitalization of up to 3.14 billion euros ($3.41 billion) in
its initial public offering, the first major European IPO since
sports car maker Porsche  P911_p.DE  in September.
  
        Owners United Internet and Warburg Pincus are offering
investors shares in IONOS at 18.50 euros to 22.50 euros apiece,
resulting in total proceeds of up to 543 million euros, majority
owner United Internet said in a statement on Friday.
    United Internet and minority partner Warburg Pincus are each
offering 15% of their respective holdings. The free float,
assuming placement of all offer shares, would be 17.3%.
    "Depending on the final offer price and assuming placement
of all offer shares, United Internet would receive gross
proceeds of between 336 and 408 million euros, while the total
proceeds from the IPO are expected to be between 447 million and
543 million euros," the statement said.
    IONOS, which is based in Montabaur, Germany, is a web
hosting company offering mass market hosting services, domains,
managed hosting and cloud applications to consumers and SMEs in
countries including the U.S., Germany, UK, France, Spain and
Poland. It was created in October 2018 through the merger of 1&1
Internet and ProfitBricks.
($1 = 0.9196 euros)
 (Reporting by Hakan Ersen, writing by Miranda Murray, editing
by Kirsti Knolle)
 ((Miranda.Murray@thomsonreuters.com;))