The Dresden online bicycle dealer Bike24 wants to hit the Frankfurt stock exchange in June.

As the company announced on Tuesday, the price range for the IPO was set at 15 to 19 euros per share.

In this area, Bike24 would have a market value between 662 and 812 million euros.

Bike24 is convinced that the new issue "will be the next logical step as a catalyst for our growth strategy", said company boss and co-founder Andrés Martin-Birner.

The Frankfurt Stock Exchange is currently booming.

The online fashion retailer About You will be next on the floor on Wednesday, after the Linux software provider Suse, the radio mast operator Vantage Towers and the online used car dealer Auto1 have already collected billions from investors this year.

It was not until Monday that the online optician Mister Spex made his plans public.

Cherry, a manufacturer of computer mice and keyboards as well as gaming devices, is also aiming for an IPO.

The message from Bike24 shows that a private placement will take place before the listing, which includes both new shares from a capital increase of around 100 million euros and shares from the majority owner Riverside.

The US financial investor came on board in 2015 at the company founded in 2002 and wants to use the IPO for a partial exit.

In addition, up to seven million shares can be sold as “increase shares” and as part of the over-allotment option.

The placement period begins on Wednesday and is expected to end on June 22nd.

The first trading day under the symbol "BIKE" is planned for June 25th.

Focus on regular cyclists

Bike24 sells bicycles, e-bikes, equipment and clothing.

“We address premium customers who often cycle and sometimes work on their bikes.

Around 65 percent of those who order from us are regular customers, ”said racing cyclist and former competitive athlete Martin-Birner in an earlier conversation.

Around 90 percent of sales are currently attributable to bicycle parts accessories and clothing. In recent years Bike24 has grown by an average of 30 percent and in 2020 achieved sales of almost 200 million euros with an operating result (Ebitda) of 26.7 million euros.