Retailer Mytheresa Rises in Debut After $407 Million IPO
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January 21, 2021
(Bloomberg) The parent company of online luxury retailer Mytheresa climbed 19% in its U.S. trading debut after a $407 million initial public offering priced at the top of its marketed range.
Shares of MYT Netherlands Parent BV, which rose as much as 39% in New York trading, closed Thursday at $31, giving the German e-commerce company a market value of about $2.66 billion.
The pandemic has been a mixed blessing to internet retailers, Mytheresa Chief Executive Officer Michael Kliger said in an interview. While the outbreak has disrupted supply chains, the lockdowns imposed across Europe have encouraged more people to shop online.