Delivery Hero AG, the world leader in the delivery of meals online, has set the price range for the issuance of its shares for its impending ipo between eur 22 and 25,50 euros per title. The prospectus and the publication of the introduction must be approved by the German Financial Supervisory Authority Federal financial supervisory authority). The final price of the share will be determined through the process of book building. The trading of shares on the regulated market (Prime Standard) of the Frankfurt stock Exchange is expected to commence on June 30, 2017 under the symbol DHER and the ISIN DE000A2E4K43.
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Niklas Östberg, CEO of Delivery Hero, explains : the introduction of The stock exchange, Delivery Hero is an important step and exciting for us. We will continue our beautiful adventure as a publicly traded company and will seek to build further on our position as the global market leader in the delivery of meals at home. ”
Boris Mittermüller, the CEO of Foodora France, says : “The ipo of Delivery Hero is a great news for Foodora, which comes to confirm the leading position of the group. This opening up of capital allows us to go even further in improving our service, while continuing to develop Foodora.”
The summary of the ipo
– The introduction will be composed of 18 950 000 new shares from a capital increase and 15 000 000 of already existing actions from the holdings of certain shareholders.
– In addition, 5 092 500 shares from the holdings of the Global Online Takeaway Group could be placed by investors in connection with a potential over-allotment.
– By taking the midpoint of the price range, the gross revenues from the introduction of new titles would reach 450 million euros. Delivery Hero plans to use in priority the net proceeds to repay its loans and finance the growth and development of its business.
– If we take into account all of the titles introduced, including those arising from the over-allotment, and taking the midpoint of the price range, the introduction would reach an amount of around 927 million euros.
– The current shareholders of the company have agreed to a lock up period of 180 days and members of their executive board for a period of 12 months.
– Depending on the validation of the prospectus and the publication of the part of the German Financial Supervisory Authority Federal financial supervisory authority), the introductory period should commence on June 20, 2017 and ending June 28, 2017. The final price and the total number of securities of the Introduction should be published in the June 28, 2017. Once it is approved, the prospectus will be available in the investor Relations site www.deliveryhero.com.
– The introduction will be composed of government securities in Germany and Luxembourg and private placements in certain jurisdictions outside Germany and Luxembourg.
Citigroup, Goldman Sachs International and Morgan Stanley are the global coordinators and bookrunners. Mandates levels of additional books have been entrusted to UniCredit Bank AG, Berengerg, Jefferies and UBS Investment Bank.
About Foodora
Since its creation in 2014, Foodora transforms the way consumers experience the delivery of restaurants across the globe by delivering delicious dishes in less than 30 minutes. Since 2016, Foodora takes advantage of the operational and financial support of the world leader in the delivery restaurants, Delivery Hero, which employs more than 6,000 people in 40 countries. Valued more than 3 billion euros, Delivery Hero is, by its leading position and its performance, one of the few unicorns in europe. In France, Foodora will operate in the 10 largest cities in the country by mid-2017. With more than 20% growth per week in France, Foodora is the start-up of the most dynamic market of the foodtech.
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