Mytheresa raises IPO price to 26 dollars a share
21 Jan 2021
Mytheresa has upped the pricing of its shares ahead of its IPO.
The German luxury e-tailer plans to sell around 15.6 million American depositary shares (ADS) which will now cost 26 dollars apiece, compared to the range of between 16 and 18 dollars it announced last week.
The company, which first announced plans to go public late last year, will be listed on the New York Stock Exchange under the ticker symbol ‘MYTE’.
The shares are expected to begin trading on Thursday and the offering is expected to close on 25 January.
Mytheresa, which used to be owned by Neiman Marcus before the US company filed for bankruptcy last year, has been performing well in recent years, capitalising on consumers’ shift to online.
Its consolidated net revenue from its online platform and physical stores in Munich increased 19 percent to 450 million euros last year, up from 377 million euros in 2019. Its online business grew by 20 percent in 2020.
Photo credit: Mytheresa, Facebook