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German online lamp retailer Lampenwelt targets IPO, sources say

Arno Schuetze
·1-min read

By Arno Schuetze

FRANKFURT (Reuters) - German lighting retailer Luqom, known for its Lampenwelt brand, is preparing for a Frankfurt stock market listing as early as September, two people close to the matter said.

The company's owner, British buyout group 3i, has asked Deutsche Bank and Citi to organise the flotation, which could value the firm at 500-700 million euros ($604-846 million), they added.

3i and the banks declined to comment.

The deal would add to a flurry of technology listings in Germany, where used-car platform AUTO1 has already floated in Frankfurt, while open-source software firm SUSE and online car dealership MeinAuto have announced IPO plans.

Separately, online retailers About You and Mister Spex as well as the maker of language app Babbel are among those potentially preparing listings, people close to the matter have said.

Luqom last year posted sales of more than 200 million euros, the bulk of which were from outside Germany, and is expected to post core earnings of about 35 million euros this year.

Luqom was founded in 1999 by Thomas und Andreas Rebmann. Working from their garage they started selling lamps via the internet under the Lampenwelt brand from 2004.

($1 = 0.8277 euros)

(Reporting by Arno Schuetze; editing by Barbara Lewis)