IPO: zooplus AG to list on Frankfurt Stock Exchange
Munich, Unterfoehring – May 5, 2008 – IPO zooplus AG: Europe’s leading online retailer for pet products and supplies, will publicly list its stock on Frankfurt Stock Exchange’s Entry Standard, a segment of the Open Market. A listing prospectus has been published and accepted by Bafin, the German financial markets regulatory authority. First day of trading will be May 9, 2008. The listing will not encompass a capital increase at this point in time.
zooplus was founded in 1999 and is meanwhile Europe’s leading online retailer for pet supplies according to turnover. Total sales for 2007 were EUR 55,4 Mio. and have been growing at an average of approx. 40% p.a. between 2005 and 2007. So far, the company’s business model has been successfully introduced to 13 countries, including Germany, UK, France, Benelux and Austria.
“In 1999, zooplus was an initial trial whether it would be possible at all to retail pet supplies online. Today ‐ with more than EUR 50mm in total sales ‐we are Europe’s largest player in our segment by far.
Cornelius Patt, zooplus
“We are well positioned versus our competition, growing fast with enormous further potential while at the same time solidly profitable. Our IPO is a logical next step towards taking the company to a substantially higher level in terms of profits and sales during the coming years,” says Dr. Cornelius Patt, zooplus’ CEO and co‐founder in Munich.
“The team did a great job in developing zooplus from a first mover into Europe’s leading online retailer in its segment. It was their consequent use of technology and data in all aspects of the zooplus’ business model that has helped to create such a rapidly growing and profitable company.”
All of zooplus’ 2.386.150 bearer shares will be released for trading.
Initially, and due to various lock‐up agreements, only 5% of the total stock can be traded freely. Medium‐tem, this percentage is set to increase substantially. zooplus does not rule out a later change of market segment into a German or European regulated market. The company’s shareholder meeting has already given its consent to such a measure, especially in the form of introducing the company to trade on Frankfurt’s General or Prime Standard market segment. zooplus seeks to communicate and report as openly and transparently as possible and has voluntarily agreed to give an annual declaration of adherence to the German Corporate Governance Codex. In addition, all the company’s reporting is already based upon international accounting standards (IFRS).
Strong operational cash flow vs. challenging IPO climate
zooplus Co-founder Dr. Cornelius Patt adds: ”Under a different IPO climate one might have thought about a capital increase whilst at the same time creating a substantially higher free float from day one. This, however, does neither appear sensible nor possible in a way which would have added value for zooplus. Moreover, and due to our strong operational cash flow zooplus does not require such a measure in the first place right now. As we have been working on our listing for quite some time and seem to be very well prepared for such a step, we have decided to go forward nevertheless. Further steps will follow soon.”