Deals
HelloFresh Aims for $1.8 Billion IPO Valuation
- Meal-kit startup sets 9-11.50 euro price range for share sale
- Share sale comes as rival Blue Apron continues to struggle
HelloFresh Targets $1.8 Billion Valuation in IPO
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HelloFresh, the meal-kit startup backed by Rocket Internet SE, is targeting a market valuation of as much as 1.5 billion euros ($1.8 billion) in an initial public offering this week, the company said in a statement Sunday.
The company, which sells meal kits in 10 markets and remains unprofitable, set a price range of 9 to 11.50 euros a share. It’s looking to raise 243 million to 311 million euros to invest in expanding its business. The shares are expected to start trading in Frankfurt Nov. 2.