German startup incubator Rocket Internet has announced that it plans to launch an initial public offering (IPO) on the Frankfurt Stock Exchange by the end of this year. Through this offering, Rocket Internet plans to raise around €750 million (around $969 million) in gross proceeds. It also noted that this offer will consist solely of new shares and none of the existing shareholders will sell any shares as part of this offering for at least 12 months. Rocket Internet shareholders currently include Global Founders (the investment vehicle of Oliver Samwer, the founder and CEO of Rocket, and his brothers), Investment AB Kinnevik, Access Industries, Philippine Long Distance Telephone Company, United Internet and HV Holtzbrinck Ventures and some of their affiliates. The company is yet to disclose the starting price or how many shares will be offered through this IPO, although a source-based Reuters report suggests that…
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