Rocket Internet IPO set to take off this year

ROCKET Internet, the German venture capital firm behind two of Singapore's most popular lifestyle tech startups (Zalora and Easy Taxi), on Wednesday confirmed plans for a listing on the Frankfurt Stock Exchange later this year.

In a widely-anticipated initial public offering (IPO) that will raise about 750 million euros (S$1.23 billion) for future growth, Rocket looks set to achieve its mission of becoming the world's largest e-commerce platform outside of the US and China.

The offer is expected to comprise only new shares from a capital increase, as all six existing shareholders have committed to not selling any of theirs, said Rocket in its prospectus.