Luxury online retailer Mytheresa recently completed a successful initial public offering, marking a significant achievement for the company. The IPO involved the offering of a total of 17,994,117 American Depositary Shares (ADSs), with each ADS representing an ordinary share. This included the underwriters exercising their option to purchase an additional 2,347,058 ADSs, equivalent to 2,347,058 ordinary shares, all priced at $26 per ADS.
Of the total ADSs offered, 14,233,823 were sold by the company, while the remaining 3,760,294 ADSs were sold by the sole shareholder. The full exercise of the underwriters’ option to purchase additional ADSs highlights the strong market demand for Mytheresa’s shares.
Founded in 2006, the German luxury retailer was valued at $2.2 billion at the time of the IPO announcement. Leading the offering were Morgan Stanley and J.P. Morgan, with Credit Suisse and UBS Securities serving as joint bookrunning managers. Jefferies LLC and Cowen and Company also had roles as bookrunning managers in the significant financial event.
Following the completion of the IPO, Mytheresa’s shares will be traded on the New York Stock Exchange under the symbol MYTE. This development represents a major milestone for the online luxury retailer as it looks to expand its presence in the global luxury market and capitalize on its growing success.
To learn more about Mytheresa’s IPO, visit their official website here. Additionally, for more information on investing in luxury retail companies, check out this insightful article here.
