June 3, 2019 / 6:23 AM / 4 months ago

Emerging markets online fashion retailer GFG prepares IPO

FRANKFURT, June 3 (Reuters) - Global Fashion Group, an online fashion retailer focusing on markets such as Asia and Latin America is preparing a Frankfurt stock market flotation to reap proceeds for further growth, the company said on Monday.

The firm, which operates the platforms The Iconic, Zalora, Dafiti and Lamoda, is planning to raise about 300 million euros ($335.19 million) by selling new shares.

Global Fashion Group counts 11.2 million active customers and last year posted 1.16 billion euros in sales, while its adjusted EBITDA margin stood at minus 4.3%. ($1 = 0.8950 euros) (Reporting by Arno Schuetze, editing by Riham Alkousaa)

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