Early backers of Zalando to sell 7.3 percent stake in the retailer

Global Founders, the investment vehicle of the Samwer brothers, along with Holtzbrinck Ventures, AI European Holdings and Rocket Internet – all early backers of the online fashion phenomenon - will place up to 17.9 million shares of Zalando in an accelerated book building, Morgan Stanley said earlier this week.

The total stake to be put on sale amounts up to a 7.3 percent of shares in the company, and will be the first shares placement after Zalando SE, Europe’s largest online fashion retailer, reported its first full-year profit.

According to Bloomberg, this 7.3 percent stake would be valued at about 434 million euros at current market prices.

It is worth to remember that the online retailer raised circa 526 million euros in an initial public offering in October, and shares are now trading about 13 percent higher than the listing price, as highlighted Reuters.

As pointed out by various market insiders, this share sale will increase liquidity in the stock and boost chances of joining Germany’s MDAX Index.

Zalando, based in Berlin, last month reported adjusted earnings before interest and taxes of 82 million euros in 2014, compared with a 109 million-euro loss a year earlier.

Morgan Stanley, Goldman Sachs Group Inc. and Credit Suisse Group AG are managing the sale.