Mister Spex goes public

As of Friday, the shares of the eyewear retailer will be tradable on the Frankfurt Stock Exchange. For 25 euros per share, the start-up wants to raise 375 million euros, 245 million euros Mister Spex uses for its growth.

As of July 2, Mister Spex can be found on the stock exchange, now the company announces information about its IPO: So it issues 15 million shares at a unit price of 25 euros. This brings Mister Spex to proceeds of 375 million euros. The start-up plans to use 245 million euros of this for its expansion and the repayment of a bridging loan. The rest will go to the existing shareholders.

"The IPO is another milestone for the company," says founder Dirk Graber. "We will use the access to the capital markets to accelerate our international growth and secure our technological lead through further investments." The issue price brings the company's market value to more than €800 million.

To coincide with the IPO, eyewear group Essilor Luxottica, which distributes Ray Ban eyewear, announced it was increasing its stake in Mister Spex and buying new shares worth €50 million. In addition, the fund companies Janus Henderson and M&G are participating with 30 million euros each. This means that 30 percent of the targeted proceeds from the IPO are already secured.

Mister Spex started in 2007, initially selling glasses exclusively online and is now known as an omnichannel optician. The company operates 39 stores in Germany, Austria and Sweden. Now, stores are to be opened in seven more countries where Mister Spex already sells its range of products.