Ionos hopes for a total market capitalization of up to 3.14 billion euros for the planned IPO.

The web hosting and cloud provider announced on Friday that it would be offering up to 24.15 million shares in a range of EUR 18.50 to EUR 22.50 each.

This results in an issue volume of a maximum of 543 million euros.

There was previously speculation about a market capitalization of around 5 billion euros.

The share certificates come from the holdings of the two current owners, United Internet and Warburg Pincus.

The Internet group controls a maximum of almost 19 million papers and the financial investor 5.2 million titles.

After the initial listing planned for February 8, the free float of Ionos will be 17.3 percent if all securities offered, including the over-allotment option, are sold.

According to its own statements, Ionos is the market leader in Europe for web hosting for small and medium-sized companies.

The lion's share of revenue comes from subscriptions.

Ionos is forecasting growth of 15 to 18 percent for 2022 after a 19 percent increase in sales in the first nine months.

In the medium term, the stock market candidate expects annual revenue growth averaging ten percent and an adjusted operating profit margin of more than 30 percent.

After the announcement on Friday, the shares of the parent company United Internet hardly changed in trading at around 21.50 euros.