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Zur Rose aims to raise up to 230 mln Sfr in IPO to fund growth
June 22, 2017 / 5:14 AM / 6 months ago

Zur Rose aims to raise up to 230 mln Sfr in IPO to fund growth

ZURICH, June 22 (Reuters) - Online pharmacy Zur Rose Group plans to raise up to around 230 million Swiss francs ($236.58 million) in an initial share sale, the Swiss company said on Thursday, with the cash to help grow operations including its DocMorris unit in Germany.

The IPO, with a price range of 120 francs to 140 francs per share, would value the company at between 780 million francs and 870 million francs, Zur Rose said.

Zur Rose will use IPO proceeds for expansion, including to boost TV advertising in Germany, its largest market, as well as to support its shop-in-shop concept with Swiss grocery chain Migros that is due to open its first location next month.

The first trading day is expected around July 6. (Reporting by John Miller, editing by Michael Shields)

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