BERLIN/FRANKFURT, Jan 13 (Reuters) – United Internet’s (UTDI.DE) web hosting subsidiary Ionos plans to start the process for an initial public offering (IPO) this month, two sources close to the matter told Reuters on friday with
An ITF (Intention to Floating) document could come as soon as next week, the sources said. Bloomberg first reported the news on Thursday.
On Friday, the United Internet share gained up to 5.1% and reached a four-month high of EUR 22.54 per share.
Ionos could be valued at €5 billion ($5.42 billion) in a stake sale, the sources said.
Ionos declined to comment.
If IPO plans go ahead, Ionos could debut on the Frankfurt Stock Exchange in mid-February, ending a slump in stock markets in Germany.
It would be the first major European IPO since sports car maker Porsche in September and would test European markets after deals plummeted in 2022.
Last fall, Ionos commissioned the investment banks JPMorgan (JPM.N), Deutsche Bank (DBKGn.DE), Berenberg and BNP Paribas (BNPP.PA) to prepare for the IPO.
Financial investor Warburg Pincus holds 24.9% of Ionos and could initiate its exit with the IPO, the sources said. Warburg Pincus declined to comment.
($1 = 0.9229 euros)
Reporting by Emma-Victoria Farr, Alexander Hübner, Hakan Ersen Writing by Miranda Murray Editing by Rachel More and Mark Potter
Our standards: The Thomson Reuters Trust Principles.
Emma Victoria Farr
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