Eric Burg June 19, 2017
Berlin-based food delivery marketplace Delivery Hero will offer up to 39 million shares for €22 to €25.50 apiece in its IPO, which could result in a valuation of up to €4.4 billion. Fast casual dining chain Vapiano, on the other hand, is expecting to raise €85 million with its flotation, with the announced price range suggesting a market cap of up to €634 million.
Both listings are happening among a flurry of announced, expected and rumoured listings in Germany, including the likes of HelloFresh, Siemens Healthineers and Home24. Such a full plate will test investor appetite for large listings, at a time when IPOs are not a popular choice. The number of German companies coming to market declined last year, according to the PitchBook Platform, while 2017 has begun particularly slowly compared with data going back to 2012.