January 18, 2018 / 11:52 AM / 3 months ago

Online furniture retailer Home24 to float in early summer - Manager Magazin

BERLIN, Jan 18 (Reuters) - German online furniture retailer Home24, in which Rocket Internet is a major investor, is preparing a stock market listing in early summer, Manager Magazin reported on Thursday, citing unnamed company insiders.

Home24 was not immediately available for comment.

Rocket Internet Chief Executive Oliver Samwer said in November that Home24 might need to explore raising more funds, but in an interview with Reuters last week dismissed the idea of merging Home24 with its other furniture site Westwing.

Manager Magazin said Home24 was already in talks with potential investors and should be close to recording a profit by the time it is ready to list, with Samwer keen to take advantage of the current stock market boom.

When Home24 last raised capital in 2016, its valuation was slashed by more than half to 420 million euros ($514.25 million). Rocket owns a 43 percent stake in Home24, while other investors include Sweden’s Kinnevik and Baille Gifford.

$1 = 0.8167 euros Reporting by Emma Thomasson; Editing by Maria Sheahan

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