The parent company of an online luxury retailer Mytheresa and a shareholder raised $ 407 million in an initial U.S. public offering after putting prices on the shares at the top of the market segment.
An estimated 15.65 million American investment shares of a fast-growing German e-commerce company sold for $ 26 per head on Wednesday, according to recitation. MYT Netherlands Parent BV had marketed 13.65 million shares for $ 24 to $ 26 per share, after Monday’s price range increased from $ 16 to $ 18. The shareholder sold 2 million section in the listing.
Each ADS represents one standard category. At $ 26 a share, the company has a market value of $ 2.23 billion based on the outstanding shares in its films with the U.S. Securities and Exchange Commission.
For the year ended June 30, the company had a net revenue of 6.35 million euros ($ 7.7 million) on net sales of 450 million euros, according to the films.
The offer was led by Morgan Stanley and JPMorgan Chase & Co. Shares are expected to start trading Thursday on the New York stock exchange under the MYTE symbol.
Mytheresa traces her roots back more than 30 years to a luxury store in Munich. In 2006, they launched a small e-commerce business and it has now grown into a business with over 700 employees.
The company, which specializes in women’s clothing and apparel, carries more than 250 brands including Gucci, Prada and Givenchy and has customers in more than 140 countries, which according to a website. Mytheresa is located near the Bavarian capital Munich in southern Germany.