Rocket Internet’s HelloFresh Food Unit Said To Postpone IPO
HelloFresh AG, the German food-delivery start-up backed by the Samwer brothers’ Rocket Internet SE, is postponing its initial public offering in Frankfurt because of market volatility, according to people familiar with the matter.
HelloFresh may revisit a stock listing early next year, said the people, who asked not to be identified because the details aren’t public. The company is delaying the IPO because of concern about investor demand and valuation, the people said.
HelloFresh fetched a valuation of 2.6 billion euros ($2.8 billion) after raising 75 million euros in a funding round in September. Companies including Advent International Corp.-backed Oberthur Technologies and music-streaming site Deezer SA postponed IPOs in the past few weeks, citing volatile markets.
Companies that listed last month, including plastics maker Covestro AG and online retailer Showroomprive, had to reduce the size of their sales and price at the bottom of their ranges.
HelloFresh was set up in 2011 and delivers weekly meal kits with recipes and ingredients to customers in several countries, including the Netherlands, the UK and the US.
A representative for HelloFresh declined to comment.
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