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Vinted planning $500m share sale - report
(Sharecast News) - Online marketplace Vinted has reportedly launched a share sale that could value it at as much as $5bn (£3.9bn). According to Sky News, the company this month began sounding out investors about a secondary stock offering that would involve existing shareholders offloading part or all of their stakes.
Sky cited insiders as saying that if successfully completed, between $200m and $500m (£156m and £390m) worth of shares could change hands in the deal.
Although it would not involve any new capital being raised by the company, executives and investors are said to be hopeful that it will crystallise a valuation of around $5bn.
The launch of the secondary share sale, which is being handled by bankers at Morgan Stanley, comes three months after Vinted reported its first annual profit.
Founded in 2008, the Lithuania-based business has become one of the world's most prominent used-fashion marketplaces. Last year, it secured new borrowing facilities to help finance its expansion.
Vinted is being widely tracked by bankers as a potential candidate for an initial public offering, which is anticipated in the next couple of years.
The company's last major primary fundraising took place in 2021.
A spokeswoman for Vinted declined to comment to Sky.
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