The Berliner newly listed Zalando and Rocket Internet have burned together 2.7 billion euros in the first week on the floor. The – as measured by the share highest price – drastically lower share values are indeed only a calculated quantity. It results from the current share price multiplied by the number of shares traded. But the rapid depreciation irritated investors and investors protectors: They showed up on Friday dissatisfied with the performance before the IPO (Initial Public Offering IPO =) hyped Internet companies. Other IPO candidates rethink after the failed debut of Berlin and given the gloomy market sentiment their plans.
“The IPOs of Zalando and Rocket Internet were a disappointment for the German IPO market,” said Sven Krause, head of equity fund management at LBB-Invest. The Zalando- stock has lost 25 percent since its initial listing ten days ago, the Rocket-paper lost since last Friday, a 18 percent. Both have recently recovered somewhat. Zalando had been temporarily rated with 5.9 billion euros, 6.7 billion euros with Rocket Internet. LBB-Invest was not among the investors. “We have not drawn yet Zalando- Rocket shares. It was difficult to evaluate the company, “Krause said. “For us it is crucial that companies grow and that they make a profit.” When Rocket will take years to be generated to profits.
“You have yet to acknowledge how much here entrepreneurial on the legs was asked, “admitted Michael Kunert of the Protection of Investors (BoK) to consider. More than Rocket have Zalando as an online merchant “considerable potential”. Because of the extremely high valuation at IPO but was probably a crash course. “This has tarnished the image.” Shares were to gamers papers: “Many investors would not remain long and have speculated on quick profits,” Kunert said. But these did not work. Although Zalando reached a short-term capital gain of twelve percent, however Rocket crashed just below the issue price. Both would still have “chosen wisely” the time of their IPOs, Kunert said. A few days before the Chinese online retailer Alibaba had gone with a price jump in the stock market. The stock was not broken later. Zalando had taken around 600 million euros in the IPO, Rocket around 1.6 billion euros.
Investors criticize the lack of transparency of Rocket Internet
had the run of the Samwer brothers Rocket Internet selected for the share sale the less regulated “Entry Standard” of the Frankfurt Stock Exchange with low transparency rules. It came with some large investors as bad as at the investor presentation in advance: “It is the Samwer brothers failed, the interests of venture capitalists together with those of the capital market,” said fund manager Krause. “We were not interested, that was spoken before the IPO by a constantly rising vote, because new investors Rocket won.” Overall, there have been a lack of transparency of the data. “This is something not rewarded by the market.”
The online marketplace Scout24 and commercial real estate firm TLG now want to wait a few days before they continue their preparations for an IPO. The Berlin cable provider Tele Columbus sees himself “still on schedule,” a spokesman said. The expected for Friday publication of the offering prospectus but had to wait until the evening to yourself.