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United Internet AG and Warburg Pincus said the initial public offering of Ionos Group will raise gross proceeds of as much as €543 million ($590 million) when the web hosting business lists in Frankfurt.
The price range for the Ionos shares has been set at €18.50 to €22.50 apiece, the companies said in a statement on Friday. United Internet and Warburg are each offering 15% of their holdings in Ionos, they said, confirming an earlier Bloomberg News report. The free float following the IPO will be as much as 17.3% if an over-allotment option is exercised.
At the high …
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