December 7, 2017 / 4:31 PM / 3 months ago

Rocket Internet CEO buys 34 million euros in company stock

BERLIN (Reuters) - Oliver Samwer, the founder and chief executive of Rocket Internet, has bought another 33.83 million euros ($39.91 million) worth of shares in the German ecommerce investor, according to a regulatory filing on Thursday.

FILE PHOTO: The logo of of Rocket Internet, a German venture capital group is pictured in this September 24, 2014 illustration photo. REUTERS/Dado Ruvic/File Photo

Samwer’s family holding company is the biggest shareholder in Rocket Internet, with a stake of 37 percent. Samwer bought the shares for 20.50 euros each.

Samwer last week faced calls from investors to return more cash to shareholders or even go private as Rocket Internet pushed back its goal of turning a profit at some of its leading start-ups.

Rocket’s volatile stock, which is still almost half the level it listed at three years ago, traded up 2.2 percent at 1520 GMT to 21.10 euros.

Samwer, a serial entrepreneur who has become one of Germany’s richest men through his savvy investments in online companies, has said the likelihood that Rocket Internet would pay future dividends was low, although it would continue to buy back shares under a programme announced in August.

“Our interest is not to trade at a discount,” he said last week. “We remain very, very confident. Has that been reflected in the stock price? No.”

($1 = 0.8476 euros)

Reporting by Emma Thomasson; Editing by Adrian Croft

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