Rocket exerts downward drag on German fashion IPO LiamWardProud
Global Fashion Group on June 25 extended the offer period for its initial public offering, and said it may change the terms. Reuters reported that the move was due to low investor demand.
The company's shares, which had been expected to start trading on Thursday in Frankfurt, will now start trading on July 2, GFG said.Germany’s Manager Magazin reported on June 20 that Rocket’s chief executive is planning to de-list the German technology investor. The supervisory board of Rocket Internet has discussed the project, Manager Magazin said, adding the most likely option is a share buyback after which Chief Executive Oliver Samwer would hold at least 75% of the company’s shares. The 46-year-old currently owns 44% through two separate vehicles, according to Refinitiv data.
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