Thursday, June 20, 2019

Germany's Rocket Internet Jumps 7.7% on Take-Private Speculation (RKET.GR)

Meaning it only has to jump another 63% to get back to its October 1, 2014 IPO price of €42.50. €26.00 last.
From Reuters:
Rocket Internet shares rise after report on potential delisting
Shares in German ecommerce investor Rocket Internet jumped more than 7% on Thursday after a magazine reported that Chief Executive Officer Oliver Samwer is planning to delist the company to make more autonomous investment decisions.

The supervisory board of Rocket Internet has discussed the project, Manager Magazin said. It said the most likely scenario was for Rocket Internet to buy back shares using cash on hand of 3.6 billion euros ($4.07 billion) in the company’s treasury.

Holding on to his shares would see Samwer increase his stake to at least 75% from 44% currently.
A spokeswoman for Rocket Internet declined to comment on the report.

It was uncertain whether United Internet and investment company Baillie Gifford, which hold 9% and 7%, respectively, were willing to sell their stakes, Manager Magazin added....MORE
Here's the Manager Magazin story:  
Warum Rocket Internet den Rückzug von der Börse plant

We've been messing around with RKET since the IPO when this tidbit caught or collective eye:

"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?"

Berlin's Rocket Internet Is Not Doing Well After Major Investor Cuts Stake (RKET.DE)
When A Company Issues A Press Release At 11:40 P.M., It's Usually Not Good News (Rocket Internet: RKET)
Rocket Internet May Have A Proven Winner (RKET)
"Tracking HelloFresh’s Growth"
Rocket Internet Struggles to Prove Its Profits Can Take Off (RKET.GR)
Whoa!! Germany's Rocket Internet May Not Be Valued Correctly
Hey, One of Rocket Internet's 'Proven Winners' May be Coming Public (RKET.GR)
Climateer Line of the Day: Venture Capital Economy Edition

Delivery Hero, one of their investees, seems to be doing well, the rest of the clones—for that was the business model, find internet related businesses to clone in Europe—the rest of the clones, not so much.