June 12, 2018 / 7:48 AM / in 4 months

Home24 expected to price IPO at 23 euros per share - bookrunner

FRANKFURT, June 12 (Reuters) - German online furniture retailer Home24 is expected to price its initial public offering (IPO) at 23 euros a share, giving it a market value of 625 million euros ($737 million) including an overallotment option, following its stock market flotation.

“Orders below eur 23 euros per share risk missing out,” the bookrunner said in a note to investors on Tuesday.

Investors have until June 13 to submit purchase orders and the shares are to start trading on the Frankfurt stock exchange on June 15.

Home24 needs to raise gross proceeds of 150 million euros and the company has set a 19.50 to 24.50 euros a share price range.

$1 = 0.8480 euros Reporting by Arno Schuetze, editing by Louise Heavens

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