Tech

Rocket Internet aims to list shares in fashion and food holdings

Rocket Internet aims to list the shares in two of its own holdings- the Global Online Takeaway Group and Global Fashion Group. The move comes eight months after the German e-commerce company launched its own initial public share offer, according to Reuters.

The report of the rumored free float originally comes courtesy of Manager Magazin.

Rocket Internet has declined to comment on the report.

If the rumored free float turn out to be true, shares for both firms could be ready for trading in the immediate future. The shares could end up in the stock exchange at some point in 2015, or they could find their way there by 2016 at the absolute latest, according to Baystreet.

Global Fashion Group is the product of five Kinnevik and Rocket Internet-based fashion start-ups that had made their names online while catering to a diverse array of markets.

Global Online Takeaway Group is made up of the combination of stakes invested in online food delivery from companies such as Foodpanda and Delivery Hero.

The rumor also indicates that Delivery Hero is looking to put up its own stock market listing, according to the Economic Times. Rocket Internet holds a 39% stake in the company, but they have no seats on the board, meaning Delivery Hero can still function as an independent company.

It seems Rocket Internet prefers Delivery Hero to be part of the free float along with Global Online Takeaway Group, as opposed to the company going off on its own.

Delivery Hero has also declined to offer any comment on the report.

Rocket Internet's latest moves could be taken as the company's boldest yet to position itself as an impact player in the e-commerce scene, provided that it shakes out according to plan for the German company.


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