Rocket Internet News

Rocket`s LPV totalled 4.85 billion euros at June 30, up from 2.6 billion on Oct. 2, 2014, according to company documents.

At its first annual general meeting on Tuesday, Rocket asked shareholders for permission for a possible capital increase in the next five years of more than 2.5 billion euros based on its current share price. The company also sought approval to issue a convertible bond of up to 2 billion euros by June 2020. 

Europe`s biggest Internet company said full year 2014 sales of 104.0 million euros ($115.7 million) compared to 72.5 million euros in 2013.

Rocket Internet, a tech investor focused on emerging market ventures, has reduced its stakes in two of its Europe-focused financial services start-ups after facing setbacks there, Germany`s Spiegel magazine said.

According to a report in VC Circle, Amazon would keep Jabong as a separate property post the acquisition, which would be on the lines of Amazon's acquisition of Zappos in the US.

Rocket had been touted as the largest IPO in Germany since Tognum in 2007.

Initially, investors had from September 24 until October 7 to apply for shares. But the subscription period would now end on October 1.

The companies join a flurry of e-commerce flotations set to be crowned by Chinese giant Alibaba next week.