MYT Netherlands, a global luxury fashion e-commerce platform, raised the range for its upcoming IPO on Tuesday.
The Munich, Germany-based company now plans to raise $391 million by offering 15.6 million ADSs (87% primary) at a price range of $24 to $26. The company had previously filed to offer 15.6 million ADSs (100% primary) at a range of $16 to $18. At the midpoint of the revised range, MYT Netherlands will raise 47% more in proceeds than previously anticipated.
MYT Netherlands was founded in 2006 and booked $576 million in sales for the 12 months ended September 30, 2020. It plans to list on the NYSE under the symbol MYTE. Morgan Stanley, J.P. Morgan, Credit Suisse, UBS Investment Bank, Jefferies and Cowen are the joint bookrunners on the deal. It is expected to price during the week of January 18, 2021.
