Citing investor demand, Rocket Internet closes IPO early

Citing “exceptional” investor demand, Rocket Internet closed its initial public offering (IPO) earlier.

In a statement, Rocket Internet announced that due to investor demand across all points of the price range, it has decided to accelerate the timetable for its IPO.

Rocket Internet says it closed its IPO early due to demand

Rocket Internet says it closed its IPO early due to demand

The offer period, which started on September 24, 2014, will now end on October 1, 2014 at 13:00 CEST for institutional investors and at the end of the business day CEST for private investors.

The listing of the shares and first day of trading on the Frankfurt Stock Exchange is planned for October 2, 2014 with settlement expected on October 6, 2014.

Dominant carrier PLDT, which has a substantial investment in Rocket Internet, earlier said it has given its approval to the German e-commerce group to proceed with the IPO on the Frankfurt Stock Exchange this month.

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