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Zalando shareholders place 244 million euros in stock

Published 08/07/2015, 20:09
Updated 08/07/2015, 20:15
© Reuters. A Zalando logo is printed on a wall in a showroom of the fashion retailer Zalando in Berlin

FRANKFURT (Reuters) - Two shareholders in Zalando, Europe's largest dedicated online fashion retailer, sold 244 million euros (176 million pounds) worth of stock representing 3.36 percent of the company's share capital in a quick sale process on Wednesday.

The approximately 8.3 million shares were placed at 29.5 euros each, the banks who managed the deal said, compared to the last closing share price of 31.12 euros.

Holtzbrinck Ventures GmbH & Co. KG and AI European Holdings S.à.r.l were the sellers of the shares. The quick sale, or accelerated bookbuild, was conducted by U.S. investment banks Goldman Sachs and JP Morgan.

Retailer Zalando joined Germany's mid-cap index MDAX in June, following their flotation on the Frankfurt stock exchange in October. The shares were originally listed at 21.50 euros per share upon listing.

© Reuters. A Zalando logo is printed on a wall in a showroom of the fashion retailer Zalando in Berlin

Reuters cited an unnamed source earlier on Wednesday saying that the shares would price at 29.5 euros per share.

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