406.8 million is the funds raised at the opening of the stock exchange this Wednesday by the platform located in Munich, valuing the trading site at 2.2 billion dollars.
The firm said it was selling 15.6 million U.S. depositary receipts at $26 per unit, a significant change from the initial range of $16 to $18 per share.
Mytheresa has a wide range of luxury products from Gucci to Valentino. The luxury ready-to-wear retailer states in a press release that it would sell 13.6 million U.S. depositary shares (ADSs) while its sole shareholder would sell 2 million ADSs.
Sales will begin this Thursday under the symbol “MYTE” on the New York Stock Exchange. The proceeds from the IPO are intended to pay down debt related to last year’s bankruptcy of the former parent company Neiman Marcus. The primary subscribers to Mytheresa‘s offering are Morgan Stanley & Co. and J.P. Morgan Securities.
Read also : FINANCE: MYTHERESA ANNOUNCES ITS IPO PRICE
Featured photo : © Mytheresa
