The Scout24 Group debuted on the Frankfurt Stock on the 1st October with an IPO price of EUR 30 per share. This valued the company, at listing, at EUR 3.2 billion. After an initial spike to EUR 30.75, the shares closed down 4.1% at EUR 28.75.
The IPO raised just over EUR 1.1 billion in the float with EUR 228 million going into the company and the rest being a sell down by existing shareholders. This provided a free float of ~36% of the stock.
The members of the management and supervisory board of Scout24 as well as further invested employees sold only a minority position of their indirect shareholdings and thus continue to hold 3.5 % of the company's share capital on a look-through basis upon completion of the IPO.
"We are very pleased with the great feedback we received from investors. The high level of demand even in the context of an extremely challenging market backdrop demonstrates the attractiveness of our company and reflects confidence in the future growth of Scout24", Greg Ellis, CEO of Scout24, said. "We are committed to do everything we can to live up to the trust our new investors have placed in us."
The Company, Asa HoldCo, DTAG, the supervisory board members and former employees of Scout24 have agreed to a lock-up period of six months, starting on the first day of trading. The management board of Scout24 as well as further invested employees have agreed to a lock-up period of twelve months.