Germany's IONOS likely to price its IPO at low end of range (updated)

United Internet AG

07/02/2023 11:23

(Adds more information from bookrunner, background)
       Feb 7 (Reuters) - German web hosting firm IONOS is
expected to price its initial public offering (IPO) at the low
end of the targeted range, the bookrunner said on Tuesday.
    Shares would likely cost 18.50 euros, the accompanying banks
told potential investors shortly before the end of the
subscription period. The price range was from 18.50 to 22.50
euros.
    The initial listing on the Frankfurt Stock Exchange is
planned for Wednesday. IONOS is the first major float in Europe
since Porsche's (PSHG_p.DE) blockbuster debut in Germany last
September.
    The deal is seen as a test of investor appetite for new
publicly traded companies after IPO activity plunged in 2022.
    The bookrunner said the shares are multiple times
oversubscribed at the aforementioned price and that books are to
close on Feb. 7 at 1200 GMT.
 (Writing by Friederike Heine; Editing by Paul Carrel and Arun
Koyyur)
 ((friederike.heine@thomsonreuters.com;))