Kinnevik to sell 4.2% stake in Zalando
Reuters
Published Jun 15, 2020 12:55
STOCKHOLM (Reuters) - Sweden's Kinnevik AB (ST:KINVb) is selling a 4.2% stake in online fashion retailer Zalando (DE:ZALG) through an accelerated bookbuilding process, it said on Monday.
Kinnevik said it was selling 10.6 million existing shares, representing 4.2% of the German firm's issued share capital, through the launch of an accelerated bookbuilding to institutional investors.
Kinnevik said the shares correspond to 16.2% of its holding in the firm. The investment company owns a 26% stake in Zalando, according to its website.
It said it was not planning to realise further cash from the Zalando investment.
Kinnevik said Credit Suisse (SIX:CSGN) Securities Limited and BofA Securities will be acting as joint bookrunners in the transaction.
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Written By: Reuters
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