BERLIN: German web hosting firm IONOS<\/a> targets a market capitalization of up to 3.14 billion euros ($3.41 billion) in its initial public offering, the first major European IPO<\/a> since sports car maker Porsche in September.
Owners United Internet<\/a> and Warburg Pincus<\/a> are offering investors shares in IONOS at 18.50 euros to 22.50 euros apiece, resulting in total proceeds of up to 543 million euros, majority owner United Internet<\/a> said in a statement on Friday.
United Internet and minority partner Warburg Pincus are each offering 15% of their respective holdings. The free float, assuming placement of all offer shares, would be 17.3%.
\"Depending on the final offer price and assuming placement of all offer shares, United Internet would receive gross proceeds of between 336 and 408 million euros, while the total proceeds from the IPO are expected to be between 447 million and 543 million euros,\" the statement said.
IONOS, which is based in Montabaur, Germany, is a web hosting company offering mass market hosting services, domains, managed hosting and cloud applications to consumers and SMEs in countries including the U.S., Germany, UK, France, Spain and Poland. It was created in October 2018 through the merger of 1&1 Internet and ProfitBricks.
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