IPO – low demand at Ionos – economy
The owners of the web hosting and cloud provider Ionos have to settle for a price at the lower end of expectations for its IPO. At the first major IPO of the year in Europe, the shares owned by the majority shareholder United Internet and the financial investor Warburg Pincus would probably be issued between 18.50 and 19.50 euros, the accompanying investment banks said. In the narrowed range, Ionos would have a market value of 2.59 to 2.73 billion euros, the issue volume would be between 447 and 471 million. The first listing of Ionos on the Frankfurter stock exchange is scheduled for Wednesday. The two previous owners then give up a maximum of 17.3 percent of the shares together – in the hope of redeeming even more later. They have undertaken to place further shares on the market after six months at the earliest.