July 21, 2024


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Fashion Retailer About You, Holders Seek $1.1 Billion in IPO

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E-commerce fashion retailer About You AG and its shareholders are seeking as much as 941 million euros ($1.1 billion) in a Frankfurt initial public offering, betting that demand for its party outfits will ramp up as night life unlocks.

Shares are being marketed at 21 euros to 26 euros apiece through June 14, with the new stock set to start trading on June 16, it said in a statement Tuesday.

About You, which aims to digitize the classic stroll around a mall by creating a personalized shopping experience on smartphones, specializes in catering to young women in their 20s and 30s. It operates in a crowded field, competing with the vast clothing collections carried by Asos Plc and Zalando SE.

The company plans to sell 28.6 million shares to raise at least 600 million euros, while management and holders including GFH are looking to offload as many as 8.4 million of shares.