Retailer sells luxury fashion brands such as Prada, Gucci and Burberry // Mytheresa has raised £ 297 million in US IPO // Online fashion retailer first announced plans for Wall Street IPO in December // The shares are expected to begin trading on the New York Stock Exchange on January 21
Mytheresa has raised $ 407 million (£ 297 million) in a US IPO after parent company MYT Netherlands Parent sold about 15.65 million depository shares for $ 26 each on Wednesday.
The shares are expected to begin trading on the New York Stock Exchange on January 21 and the offering is expected to close on January 25.
The listing will be backed by Morgan Stanley, JP Morgan, Credit Suisse, UBS, Jefferies and Cowen.
READ MORE: Mytheresa expects Wall Street IPO to reach £ 399 million
Mytheresa first announced plans for a Wall Street IPO in December, which could value it at up to £ 1bn.
The retailer sells luxury fashion brands such as Prada, Gucci, and Burberry, and was originally founded as a brick-and-mortar store in Munich, Germany.
Mytheresa launched its business online in 2006 and has since grown to be marketed in approximately 140 countries, including the UK.
The online fashion retailer reported a 27.5 percent increase in net sales year-over-year to € 126.4 million (£ 115 million) in the three months to September 30.
Click here to subscribe to the Retail Gazette’s free daily email newsletter
–
