FRANKFURT, Oct 22 (Reuters) - Loss-making German meal kit delivery group HelloFresh is offering shares worth up to 357 million euros ($421 million) in its stock market flotation, the company said on Sunday.
HelloFresh is planning to sell up to about 31 million new shares including an overallotment option for 9 to 11.50 euros apiece, implying a valuation of the company up to 1.5 billion euros excluding debt.
HelloFresh, majority owned by German ecommerce investor Rocket Internet, decided to go ahead with its renewed listing despite a 50 percent decline in shares in U.S. rival Blue Apron since the group’s June IPO.
It said on Sunday its stock would start trading on the Frankfurt stock exchange on Nov. 2.
$1 = 0.8487 euros Reporting by Maria Sheahan, editing by David Evans