IONOS sets IPO price guidance at lower end of range

FILE PHOTO: A trader works at the Frankfurt stock exchange in Frankfurt, Germany, February 22, 2022. REUTERS/Timm Reichert/File Photo

LONDON (Reuters) - German web hosting firm IONOS plans to sell shares at the lower end of the targeted price range in its initial public offering (IPO) on the Frankfurt bourse, a deal seen as a potential icebreaker for the reopening of European markets.

The company is offering stock at 18.50 to 19.50 euros ($19.94-$21.02) per share, compared with the original price range of 18.50 euros to 22.50 euros, according to a bookrunner message seen by Reuters on Monday.

Books were covered across the full deal size shortly after its official launch on the morning of Jan. 30. The offering runs through to 1400 local time (1300 GMT) on Tuesday, with the first day of trading scheduled for Wednesday.

IONOS is the first major float in Europe since Porsche's blockbuster debut in Germany last September.

The deal is seen as a test of equity investors' appetite for newly publicly traded companies after IPO activity plunged in 2022.

IONOS parent United Internet and minority partner Warburg Pincus are selling down their stakes.

($1 = 0.9277 euros)

(Reporting by Pablo Mayo Cerqueiro; Editing by Jason Neely and Jan Harvey)

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!


Next In Tech News

ChatGPT chats are not confidential, so don't tell it your secrets
Amazon connecting up devices in US homes into one giant wi-fi network
Elon Musk seeks to end $258 billion Dogecoin lawsuit
Rage-tweeting: When angry consumers seek 'revenge' for bad service
Apple VR headset coming? WWDC developer conference set for June 5
Apple wins reversal of $502 million VirnetX patent infringement verdict
E3 cancels 2023 event, leaving Los Angeles without a major gaming convention
U.S. lawmakers introduce bipartisan bill to help news media negotiate with Big Tech
Activision threatened, spied on workers amid union drive, U.S. agency says
Twitter makes some of its source code public

Others Also Read