PARIS — Showroomprive.com, France’s second-largest flash-sale site after Vente-Privée.com, on Monday launched its initial public offering, which it hopes will raise up to 373 million euros, or $423 million at current exchange.
Shares are being offered for between 19.50 euros, or $22.12, and 26.30 euros, or $29.83, each. The subscription period is due to close on Oct. 29 and trading is scheduled to begin on Euronext Paris on Oct. 30.
David Dayan and Thierry Petit, cofounders and co-chief executive officers of SRP Groupe, have said a stock market introduction will allow the firm to grow more quickly, in particular overseas.
Meanwhile, Vente-Privée.com in September appointed a ceo as it prepares to expand into new markets. The company has taken a majority stake in Vente-Exclusive.com, the leading online event sales company in the Benelux region. It is also developing subsidiaries such as travel and entertainment arms.