June 26, 2019 / 3:39 PM / 9 months ago

Global Fashion Group lowers IPO offer price to 4.50 euros a share

BERLIN, June 26 (Reuters) - Global Fashion Group, a ecommerce startup backed by Germany’s Rocket Internet on Wednesday trimmed back the offer price in its planned initial public offering (IPO) to 4.50 euros per share, it said in a statement.

The banks running the IPO had initially aimed to place shares at between 6 euros and 8 euros each.

On Tuesday, Global Fashion Group said it extended the offer period to June 28, and sources told Reuters that cancelling the listing had also been discussed. (Reporting by Tassilo Hummel Editing by Edward Taylor)

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