German diapers retailer windeln.de seeks flotation - sources
FRANKFURT (Reuters) - German diapers retailer windeln.de is preparing a stock market listing as the internet start-up seeks to tap funds for further expansion, two sources familiar with the deal said.
The group has mandated Deutsche Bank, Goldman Sachs and Bank of America Merrill Lynch to organise the IPO, which could take place as early as the first half of 2015, the sources said.
"We are continuously evaluating all strategic options to support the future growth of the company," said a spokesman for windeln.de, which was set up in 2010 and made a small 2014 profit on sales of 130 million euros (98 million pounds).
The banks declined to comment.
Last month, windeln.de closed a financing round in which Goldman Sachs, Deutsche Bank, DN Capital, MCI Management and 360 Capital Partners injected 45 million euros into the group, which also sells baby food, children's clothing and toys.
windeln.de has said it sees large potential for growth in Germany, where so far only every fifth childcare article is sold via the internet. It also plans to spend money on entering markets in other countries and for acquiring peers.
Earlier, German magazine Bilanz reported that windeln.de is seeking a listing by the end of June.
(Reporting by Arno Schuetze; Editing by Vincent Baby)
