FRANKFURT, Aug 8 (Reuters) - Online furniture retailer Westwing, backed by German ecommerce investor Rocket Internet , is reviving plans for a Frankfurt stock market listing which may come in late 2018, people close to the matter said.
The company, which in 2016 shelved its initial public offering (IPO) plans, may sell shares worth about 100 to 150 million euros ($116-$174 mln) - mostly newly issued ones, they said.
Westwing may be valued at 400 to 450 million euros in a potential deal, the people said.
Citi and Berenberg have been chosen to organise the flotation as so called global coordinators, they added.
Westwing said that it is under no time pressure to do a deal.
“We have always said that we will at some stage plan a stock market listing,” a Westwing spokeswoman said.
German start-up investor Rocket Internet holds 32 percent of Westwing, with other investors including Investment AB Kinnevik , Access Industries, Summit Partners, Tengelmann Ventures, Fidelity Worldwide Investment and Odey.
In a 2016 round of fundraising Westwing - which was founded in 2011 - was valued at 449 million euros.
The Munich-based company says it offers customers who sign up for its online shopping club furniture and home accessories at deep discounts in daily flash sales without having any of its own inventory.
Last year it posted a loss before interest, tax, depreciation and amortisation (EBITDA) of 4.9 million euros on revenues of 266 million. It moved into the black in the first quarter with an adjusted EBITDA of 1.2 million euros.
Last month, Westwing Chief Executive Stefan Smalla had told Reuters that the company is in talks with potential buyers of its non-European operations as it streamlines its operations.
Rocket Internet, which had a shaky start after listing in 2014 as its start-ups made big losses, has seen its share price surge 65 percent the last year after Delivery Hero and HelloFresh went public.
In June, Rocket Internet listed larger furniture site Home24 and, despite a recent drop, its shares still hover above the issue price. ($1 = 0.8627 euros) (Additional reporting by Emma Thomasson and Nadine Schimroszik Editing by Maria Sheahan)