As part of the agreement, PLDT will invest nearly USD 445 million for a 10% stake in Rocket Internet, putting the latter’s valuation at about USD 4.5 billion. The two companies are set to jointly develop mobile and online payment technologies and services for emerging markets that havent yet gained access to electronic commerce.
People familiar with the matter, cited by online.wsj.com, said that J.P. Morgan Chase, Morgan Stanley and Berenberg Bank are working with Rocket to launch an IPO as early as September 2014 and target a valuation of up to EUR 5 billion. Rocket Internet is also aiming for an IPO according to Frankfurt Boerses Entry Standard—the least rigorous transparency standard on offer and isnt subject to EU regulations.
Rocket companies operate in more than 100 countries, with a focus on emerging markets.
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