home24 SE: home24 announces the initial public offering of its Brazilian subsidiary Mobly

home24 announces the initial public offering of its Brazilian subsidiary Mobly

• Mobly S.A. today set the issue price per offered share at BRL 21. The first day of trading is expected to be on 5 February 2021.
• In case the over-allotment option will be fully exercised, a total number of 44,444,446 shares will be placed, representing an issue volume of BRL 933 million that corresponds to approximately EUR 145 million at the current exchange rate of BRL 6.45 per 1 EUR.
• Mobly will generate BRL 778 million gross proceeds, while home24 is realizing gross proceeds of BRL 34 million from the sale of Mobly shares, plus up to BRL 122 million in case the over-allotment option is fully exercised.
• After the IPO, home24 remains the majority shareholder of the Mobly shares.

Berlin, 3 February 2021 - The initial public offering (IPO) of the Mobly S.A. ("Mobly"), the Brazilian business of the home24 SE ("home24", the "Company"), is being realized as planned with the first day of trading on the Novo Mercado of B3 (formerly the Sao Paulo stock exchange) expected on 5 February 2021. Today, Mobly announced the issue price at BRL 21.00 per share. A strong institutional investor demand both from Brazilian and US institutional investors led to a significant oversubscription of the public offering.

In the course of the IPO, 37,037,038 newly issued common shares of Mobly S.A. and 1,610,306 common shares that are held indirectly by home24 are placed. In addition, home24 has granted an over-allotment option (greenshoe) of up to 5,797,102 common shares, which may be exercised by the stabilization agent by 6 March 2021. In case the over-allotment is fully exercised, 44,444,446 common shares will be placed in total. This represents an issue volume of BRL 933 million (equivalent to approximately EUR 145 million).

As a result of the IPO, Mobly will receive BRL 778.8 million gross proceeds, representing c. EUR 120.6 million. This will enable Mobly to invest in accelerating its growth strategy more independently of the financing historically provided by home24. Mobly intends to step up investments into customer acquisition, further roll-out of its omnichannel retail strategy and to increase the capacity of its distribution centers, as well as investments into its IT team. home24 will realize at least BRL 33.8 million and up to BRL 155.6 million gross proceeds. The precise amount depends on the extent to which the over-allotment option is exercised.

"The strong demand for the Mobly shares from renowned investors shows that not only we, but also the capital market is convinced of the long-term growth opportunities of the home & living e-commerce sector in Brazil. In recent years, Mobly has successfully delivered upon profitable growth targets and has secured a market leading position. We look forward to continuing this path together with Mobly's management.", says Marc Appelhoff, CEO of home24.

After the IPO, home24 continues to indirectly hold at least 51.1% of the Mobly shares and remains thus majority shareholder. Furthermore, Marc Appelhoff and Philipp Steinhäuser are joining the six-member Board of Directors (Conselho de Administraçao) of the Mobly S.A. as non-executive directors. The management will continue to be led by the three founders Victor Noda, Mario Fernandes and Marcelo Marques. home24 intends to continue to consolidate the financial result of Mobly.

Trading of the stock is expected to commence on 5 February 2021 on the Brazilian Novo Mercado of B3 (formerly the São Paulo Stock Exchange) under the ticker symbol MBLY3 and ISIN BRMBLYACNOR5.

About home24
home24 is a leading pure-play home & living e-commerce platform in Continental Europe and Brazil. With over 100,000 articles sourced from more than 1,000 manufacturers, home24 offers a unique selection of large and small furniture pieces, garden furniture, mattresses and lighting. This curated, broad assortment offers a significant value-for-money value proposition to customers. home24 is headquartered in Berlin and employs more than 1,500 people worldwide. The Company is active in seven European markets: Germany, France, Austria, the Netherlands, Switzerland, Belgium and Italy. home24 is also active in Brazil under the "Mobly" brand. In Europe, the Company delivers its products - regardless of size and weight - free of charge to the homes of its customers and also offers free returns. home24's product range consists of numerous brands, including a large number of private labels. home24 is listed on the Frankfurt Stock Exchange (ISIN DE000A14KEB5). For more information, please visit the Company's website at www.home24.com.
 

Competent person for this publication:
Anne Gaida
Senior Communications Manager
+49 30 201 632 941 6

Press contact:
Anne Gaida
anne.gaida@home24.de

Investor contact:
Philipp Steinhäuser
ir@home24.de

Legal disclaimer:

This publication contains forward-looking statements. These statements are based on the current views, expectations, assumptions and information of the Company's management. Forward-looking statements contain no guarantee for the occurrence of future results and developments and are associated with known and unknown risks and uncertainties. Due to various factors, actual future results, developments and events may differ materially from those described in these statements; neither the Company nor any other person accepts any responsibility whatsoever for the accuracy of the opinions or underlying assumptions contained in this publication. The Company assumes no obligation to update the forward-looking statements contained in this publication.