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Finance : Mytheresa announces its IPO price

Finance : Mytheresa announces its IPO price

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On 12 January, the German luxury online sales platform unveiled the $282 million price of its IPO, announced at the end of 2020. The company plans to sell around 15.6 million US Depositary Shares (ADS) at a price of between $16 and $18 each.

 

The platform plans to set the exact price for its IPO on 20 January and trade the next day, according to a nearby source.

 

Mytheresa will be listed on the New York Stock Exchange under the symbol “MYTE” and stated that the proceeds of the IPO were earmarked to pay off the debt related to last year’s bankruptcy of former parent Neiman Marcus. 

 

Indeed, Mytheresa, which was only a small player in luxury e-commerce, was bought by Neiman Marcus in 2014. Neiman Marcus filed for bankruptcy in early 2020, partly due to the pandemic, and handed over part of Mytheresa to its creditors.

 

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