Rocket Internet to delist itself from stock market
Berlin, 1st Sept 2020: Germany based tech investment firm Rocket Internet plans to delist itself from the Frankfurt and Luxembourg stock exchanges.
The company said it has sufficient access to capital outside the stock exchange and can better pursue a long-term approach to investing. Rocket Internet, with a market capitalisation of 2.6 billion euros ($3.12 billion), would be better off going private again since it successfully listed all the major firms it helped found, including Delivery Hero , HelloFresh and Home24 .
Listed on stock market in 2014, Rocket’s shares have mostly traded well below their issue price of 42.50 euros and below the combined value of the cash on its balance sheet and its own valuation of its remaining investments.
In its latest financial results, publishe...