Ionos is hoping for a total market capitalization of up to 3.14 billion euros for its planned IPO.

IonosThe web hosting and cloud provider announced on Friday that it would offer interested parties up to 24.15 million shares in a range of 18.50 to 22.50 euros each. This would result in a maximum issue volume of 543 million euros. Media reports had suggested a market capitalization of around five billion euros.

The shares come from the holdings of the two current owners, United Internet and Warburg Pincus. The Internet group is contributing a maximum of just under 19 million shares and the financial investor 5.2 million shares. After the initial listing planned for February 8, the free float of Ionos will be 17.3 percent, provided that all offered shares including the over-allotment option are sold.

According to its own statements, Ionos is the European market leader in web hosting for small and medium-sized companies. The lion's share of revenue comes from subscriptions. Ionos is forecasting growth of 15 to 18 percent for 2022, following revenue growth of 19 percent in the first nine months. In the medium term, the stock market candidate is confident of annual revenue growth averaging ten percent and an adjusted operating profit margin of more than 30 percent.

(Report by Hakan Ersen, edited by Ralf Banser. If you have any questions, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and the economy) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).)