* Seeks at least 225 mln euros from placement of new shares
* Aims to use funds to accelerate international expansion
* Intends to float on Frankfurt stock exchnage in Q3
BERLIN, June 14 (Reuters) - German online spectacles retailer Mister Spex said on Monday that it planned to float on the Frankfurt stock exchange in the third quarter and aimed to invest the proceeds in international expansion and in its technology platform
The Berlin-based start-up plans to raise a minimum of 225 million euros ($272 million) via a placement of new shares from a capital increase, while existing shareholders would also sell some stock.
The company sells glasses, shades and contact lenses online, working with local opticians for eyesight tests. It also operates a small number of its own stores. In 2020, it reported gross profit of 81 million euros on sales of 164 million euros.
Mister Spex said it plans to use the proceeds to accelerate its growth strategy, expand internationally and repay a bridge loan facility, as well as invest in technology.
“The IPO is the next logical step for us to strengthen our position as the leading digitally native European omnichannel optical brand and to support our long-term growth strategy,” said Dirk Graber, founder and Co-CEO of Mister Spex.
Mister Spex is owned by Graber and co-chief executive Mirko Caspar and investors, including Goldman Sachs, DN Capital, Scottish Equity Partners and XAnge. Earlier this year, it attracted 15 million euros in new money on top of a 65 million euro fundraising it closed in autumn of 2020.
Barclays, Berenberg and Jefferies are acting as joint coordinators and joint bookrunners on the deal, with Bryan Garnier and Commerzbank also acting as bookrunners and Quirin Privatbank as co-Lead manager.
($1 = 0.8266 euros)
(Reporting by Caroline Copley, editing by Louise Heavens)