BERLIN/FRANKFURT :United Internet's web hosting subsidiary Ionos wants to begin the process for an initial public offering this month, two sources close to the matter told Reuters on Friday.
An intention to float document could come as soon as next week, the sources said. Bloomberg first reported the news on Thursday.Ionos could achieve a valuation of 5 billion euros in a stake sale, the sources said.If it goes ahead with IPO plans, Ionos could make its debut on the Frankfurt Stock Exchange by mid February, ending a lull in equity capital markets in Germany.
It would mark the first major European IPO since sports car maker Porsche in September, and would test European markets after dealmaking plunged in 2022. In autumn last year Ionos commissioned investment banks JPMorgan, Deutsche Bank, Berenberg and BNP Paribas to prepare for the IPO. Financial investor Warburg Pincus holds 24.9 per cent of Ionos and could initiate its exit with the IPO, the sources said. Warburg Pincus was not immediately available to comment.
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