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Startup incubator Rocket Internet to become an operating company post its €1.48B IPO

German startup incubator Rocket Internet's initial public offering (IPO) has been fully subscribed, joint co-ordinator JP Morgan has said in a statement yesterday (Hat tip - Reuters). Rocket Internet co-founder Oliver Samwer told in a press conference that the offering was fully subscribed within the first hour of taking orders. Rocket Internet had first announced plans to launch a IPO on the Frankfurt Stock Exchange earlier this month. The company was looking to raise around €750 million in gross proceeds through this offering. However, earlier this week, Rocket Internet announced that it is doubling this amount to €1.477 billion (around $1.9 billion) at a market cap of €6.16 billion (around $7.86 billion). The company is selling 32.9 million newly issued shares (32,941,177 shares) at a price range of €35.50 - €42.50 per share. In addition, there is a potential over-allotment option for up to 4.9 million shares (4,941,176 shares). This translates to a total…

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