Thursday, February 23, 2017

Berlin's Rocket Internet Is Not Doing Well After Major Investor Cuts Stake (RKET.DE)

"Our proven winners generated aggregated net losses of €442 million" ($568 million)

-Rocket Internet prospectus via "How Do You Say 'Dot-Com Crash' in German?"

The company priced its IPO at 42.50 euros on October 1, 2014.€17.78 -3.56 (-16.70%)

From Reuters:

Shares in Rocket Internet (RKET.DE) fell as much as 14 percent on Thursday after major investor Kinnevik (KINVb.ST) sold half its stake in the German e-commerce company as the two increasingly becoming competitors.

Sweden's Kinnevik, which clashed with Rocket last year over the valuations of some of their joint investments, sold a 6.6 percent stake in Rocket at 19.25 euros per share late on Wednesday, netting 209 million euros ($220 million).

At 1155 GMT, Rocket shares were down 13.1 percent at 18.55 euros, off an earlier 2-1/2 month low of 18.275 euros....MORE
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