Global Fashion Group sets final IPO price range

652
Global Fashion Group
// Global Fashion Group sets IPO price range of between £5.35 and £7.13 per share
// The price will be set on or around June 25
// Trading on the Frankfurt Stock Exchange will commence 2 days after price is set

Global Fashion Group (GFG) has set a final IPO price range of between €6 (£5.35) and €8 (£7.13) per share.

The price will be set on or around June 25 and is subject to approval by the Luxembourg Commission de Surveillance du Secteur Financier (CSSF).

Trading on the Frankfurt Stock Exchange will commence two days after the price is set for the online fashion retailer.

Meanwhile, GFG’s existing shareholders will not be able to sell any shares during the first six months after the IPO and may only sell up to 20 per cent of their pre-flotation stakes during months seven to 12.

The five largest existing shareholders have entered into a co-ordination agreement for sell-downs in months seven to 12 post-IPO.

GFG currently serves 11.5 million customers across 17 different countries in Asia-Pacific, Latin America and the Commonwealth of Independent States.

“This is a very exciting and important next step for GFG,” GFG co-chief executives Christoph Barchewitz and Patrick Schmidt said.

“Through an IPO we will be able to invest in further strengthening of our end-to-end customer proposition, continue our path to profitability and reinforce our position as the leading fashion and lifestyle destination in growth markets.”

Click here to sign up to Retail Gazette‘s free daily email newsletter