FRANKFURT, June 6 (Reuters) - German online food retailer Delivery Hero AG on Tuesday said it is preparing a 450 million euro ($507.15 million) initial public offering on the Frankfurt Stock Exchange. Last month Reuters reported Delivery Hero was set to float before the summer break.
The offering is expected to take place in the coming months, subject to market conditions, and will consist of newly issued ordinary registered shares from a capital increase and of existing ordinary registered shares from the holdings of certain existing shareholders.
The company targets gross proceeds of about 450 million euros from newly issued shares, Delivery Hero said. As of today, approximately 35 percent of the current share capital of Delivery Hero is indirectly held by Rocket Internet SE and approximately 10 percent is held by Naspers, in each case on an undiluted basis.
Citigroup, Goldman Sachs International and Morgan Stanley will act as joint global coordinators and joint bookrunners, Delivery Hero said in a statement on Tuesday.
UniCredit Bank AG, Berenberg, Jefferies and UBS Investment Bank have been mandated as additional joint bookrunners, the company further said. (Reporting by Edward Taylor; Editing by Tom Sims)