Jan 20 (Reuters) - Munich-based luxurious trend platform Mytheresa mentioned on Wednesday it raised
Jan 20 (Reuters) – Munich-based luxurious trend platform Mytheresa mentioned on Wednesday it raised $406.eight million in its U.S. preliminary public providing (IPO), valuing the e-commerce website at $2.2 billion.
The corporate mentioned its providing of 15.6 million American depositary shares (ADS) is priced at $26 per ADS, up from its beforehand deliberate vary of $16 to $18 apiece.
Mytheresa, a digital platform that sells merchandise from luxurious trend manufacturers to prospects corresponding to Alexander McQueen, Fendi and Gucci, mentioned in an announcement it’s promoting round 13.6 million ADS and its sole shareholder would promote 2 million ADS.
The corporate will listing its shares on the New York Inventory Alternate underneath the ticker image “MYTE” and can start buying and selling on Thursday.
The IPO proceeds are earmarked to repay debt associated to final 12 months’s chapter of former mum or dad Neiman Marcus.
Morgan Stanley & Co and J.P. Morgan Securities are the lead underwriters on Mytheresa’s providing.
(Reporting by Aishwarya Nair and Kanishka Singh in Bengaluru; Modifying by Sherry Jacob-Phillips)
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