Economy
Thursday, 02 October 2014
Stock brokers feared a hype as once the new market, now the opposite has occurred: After Zalando yesterday celebrated a subdued debut, Rocket Internet in a kink IPO and drag with Zalando down. The banks do not hold against.
Charts
The shares of Rocket Internet broke into her debut at the Frankfurt Stock Exchange. The papers of the Berlin-based company started on Thursday on the issue price of 42.50 euro in trading, but slipped in the first few minutes to a low of 36.66 euros. During the morning, the price then stabilized at just under 40 euros.
The Internet holding of the Berlin startup entrepreneur Oliver, Marc and Alexander Samwer had the price range maxed out. The papers of the online fashion retailer Zalando who gave their stock market debut on Wednesday lost massively in value and listed ten percent in the red.
the failed IPO and slump of Rocket Internet lead dealer does not return to external stimuli. “There was no sudden appearance analysis that caused this,” said one dealer: “It was a pure sales overhang”. The price movement from Zalando day before seemed to have ensured that the alarm bells ringing among investors. “The sell-off has already started before the first course,” says the dealer.
Even in the last auction before the start of the continuous trading there were approximately 650,000 pieces on the sell side, where it is still the price nurturing banks have managed to stay the course on the output level of 42.50 euros. “Then there was another 800,000 pieces overhang,” the dealer continues, “Since then you have probably given up trying to support the currency even further”
No “Neuer Markt 2.0″
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The IPOs of Zalando and Rocket Internet had been hailed as a milestone for the German online economy. The company took hundreds of millions of euros. That the shares would arrive so badly with investors, had not been expected.
The fact that neither Zalando still Rocket Internet have pocketed big gains on the first day, and that the investor is not a media hype speak would be infected, as feared in advance, thought dealer. Zalando himself had shown yesterday satisfied with the IPO. For the former shareholders and staff a future increasing rate is more important than a high issue price and a price jump directly to the IPO, the company said.
After the first minutes of trading at Rocket Internet prevailed among managers depressed mood. “You have to look at stocks in the long term and not short term in a day, a week or a month,” repeated Oliver Samwer.
The Zalando shares on Wednesday was also lackluster, but started getting a little better. She closed after a first jump course with the help of supporting banks precisely to the issue price of 21.50 euros. Zalando had taken with the IPO of 600 million euros.
More on the topicRocket Internet has completely exhausted with the issue price, the price range from 35.50 euros to 42.50 euros. The company redeemed at the IPO around 1.6 billion euro and was for IPO worth up to 6.7 billion euros.
The business model of Rocket Internet is to build Internet businesses. Emphasis is placed on the online commerce and services. The start-up production as organized on an assembly line, a business model is quickly brought to the start in different countries. Meanwhile, Rocket Internet, with about 50 companies in 116 countries active.
The main investors at Rocket Internet, the Oliver, Marc and Alexander Samwer brothers. After the IPO, keep just under 40 percent, Oliver Samwer is the CEO. The Samwers are also major shareholders at Zalando with just under 15 percent. Rocket Internet had preferred the IPO by a week after the placement of the shares was completed ahead of schedule with investors. After the expiration of all waiting periods around 24 percent of the shares of Internet Rocket to be traded on the stock market
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Source: n-tv.de
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