United Internet subsidiary Ionos plans IPO in Q1


By Emma-Victoria Farr and Hakan Ersen

BERLIN/FRANKFURT (Reuters) – United Internet subsidiary Ionos said on Tuesday it will make a prime standard listing of its shares on the Frankfurt stock exchange this quarter as the web hosting company prepares for an initial public offering (IPO).

The offered shares are expected to come from the subsidiary’s two existing shareholders, United Internet and Warburg Pincus, with United Internet retaining a majority stake after the IPO, Ionos said.

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Shares of United Internet rose 1.8% to EUR 22.23 during early Frankfurt trading.

The IPO document provided no details on the target price or the number of shares to be offered. Investor meetings begin Tuesday.

A source familiar with the matter told Reuters last week that Ionos could achieve a valuation of 5 billion euros ($5.42 billion) in a share sale.

“Revenue growth of more than 15% over the past year and a long-term EBITDA margin target of no less than 30% should pique investor curiosity,” said Jürgen Molnar, strategist at Brokerage RoboMarkets.

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($1 = 0.9234 euros)

(Reporting by Emma-Victoria Farr and Hakan Ersen in Frankfurt, written by Rachel More; edited by Miranda Murray and Jason Neely)


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