United Internet subsidiary Ionos is aiming for a valuation of up to 3.1 billion

Ralph Dommermuth

The United Internet founder needs money because the mobile network construction of his telecom company 1&1 is more expensive than planned.

(Photo: dpa)

Hamburg, Dusseldorf Internet service provider and telecom group United Internet plans to list its web hosting subsidiary Ionos on the Frankfurt Stock Exchange on February 8th. Shares are to be issued at EUR 18.50 to 22.50 each, as the company announced on Friday. The company is aiming for a market capitalization of 2.6 to 3.15 billion euros.

A total of 15.7 million shares are being offered for sale, financial investor Warburg Pincus is selling a 3.75 percent stake in Ionos, while majority shareholder United Internet is offering 11.75 percent. Including shares from an over-allotment option, which can be exercised in the event of high demand, the free float is expected to be 17.3 percent after the deal. New share certificates, the proceeds of which would flow directly to Ionos, should not be issued.

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