Cherry has to bake smaller tarts
Even if the IPO of the computer accessories manufacturer Cherry wasn’t quite the cherry on the cake, it was a success. There is also some other news from the business.
Dhe manufacturer of computer keyboards and other accessories, Cherry, has to be satisfied with an issue price in the lower end of the range when it goes public. This was set at 32 euros per share, the company announced on Wednesday evening in Munich. The range was between 30 and 38 euros.
The company’s initial market capitalization is 778 million euros. Here, Cherry had expected almost a billion euros at best. The gross issue proceeds including the greenshoe option amount to 416 million euros. Cherry itself receives only 138 million euros of this, the rest goes to existing shareholders. The free float is around 53 percent. The first day of trading in the Regulated Market (Prime Standard) at the Frankfurt Stock Exchange should be June 29th.
The company is best known among gamers for its clicking mechanical keyboards, which they hope will be more precise when gaming. “Cherry keyboard” was once a synonym for standard keyboards.
The logistics company Trans-O-Flex could be listed on the stock exchange. The investment bank JP Morgan is preparing an IPO in Frankfurt for September, reports the news agency Reuters. The listing could value the Weinheimer at around one billion euros. The company specializes in the transport of pharmaceuticals, cosmetics and electronics and has been in the black again since 2018 after restructuring.
According to the Bloomberg news agency, Bertelsmann was examining sales options for the Majorel call center division, which was founded in 2019, including an IPO for the company. could be valued at up to three billion euros.
The online fashion retailer Best Secret could go public as early as next year, said Jörg Rockenhäuser, the Germany boss of majority owner Permira of the Süddeutsche Zeitung. The market value could be more than two billion euros.
Finally, in Switzerland, Astrocast, the developer of mini satellites that provide technical equipment with Internet access in inaccessible areas, is planning to go public. The start-up’s supporters include venture capitalist Adit Ventures, the venture division of Airbus SE and the European Space Agency. In the third quarter, Astrocast plans to list a 30 to 40 percent stake in Euronext via a direct listing.