While things typically slow down over the summer months in Germany, one area that’s headed for a flurry of activity is public listings.
Fast-casual dining chain Vapiano began trading today with an initial market cap of around €540 million, while later this week, inventory management company Noratis plans to go public, offering 2 million shares priced between €18.75 and €22.75.
But both offerings are relatively small compared with Rocket Internet-backed food delivery marketplace Delivery Hero. The company plans to offer 39 million shares in its IPO for between €22 and €25.50 apiece this summer. If priced at the midpoint of that range, the company would have an initial market cap of around €4 billion, possibly setting the stage for yet more listings later this year. Public exits in Germany may have gotten off to a slow start in 2017, but things are certainly heating up as we head into the summer.