Germany’s IONOS eyes market value of up to 3.14 bln euros in IPO

BERLIN: German web hosting firm IONOS targets a market capitalization of up to 3.14 billion euros ($3.41 billion) in its initial public offering, the first major European IPO since sports car maker Porsche in September.

Owners United Internet and Warburg Pincus are offering investors shares in IONOS at 18.50 euros to 22.50 euros apiece, resulting in total proceeds of up to 543 million euros, majority owner United Internet said in a statement on Friday.

United Internet and minority partner Warburg Pincus are each offering 15% of their respective holdings. The free float, assuming placement of all offer shares, would be 17.3%.