Freenet.de AG, the ISP arm of German new carrier MobilCom AG, will debut today on the Neuer Markt in Frankfurt after an initial public offering that raised 101.5m euros ($101.75m) for the company. A total of 4.025m shares were sold in the IPO, representing 23% of Freenet. Of this total 3.5 million were new shares, including a so-called ‘greenshoe’ option. The issue price was 29 euros ($29.07).
MobilCom said that, after paying fees to financial institutions conducting the operation, Freenet would be left with a net income from the IPO of around 95m euros ($95.2m), which would be invested in the development of new internet and e-commerce services as well as target group-specific internet products.
