Vinted, the largest online marketplace for second-hand clothing in Europe, has recently initiated a share sale that has the potential to value the company at a staggering $5 billion (£3.9 billion). According to sources, Vinted has begun reaching out to investors this month to explore a secondary stock offering, in which existing shareholders would have the opportunity to sell part or all of their stakes.
If the share sale is successful, it is estimated that between $200 million and $500 million (£156 million and £390 million) worth of shares could be exchanged. While this would not involve any new capital being raised by the company, both executives and investors are optimistic that it will solidify a valuation of approximately $5 billion.
The launch of the secondary share sale, which is being handled by Morgan Stanley, comes just three months after Vinted reported its first annual profit. Founded in 2008 and headquartered in Lithuania, Vinted has emerged as a leading player in the global market for pre-owned fashion. In order to support its growth, the company secured new borrowing facilities last year.
In the business world, Vinted is being closely monitored as a potential candidate for an initial public offering, which is anticipated to take place within the next few years. The company’s last major primary fundraising occurred in 2021. When approached for comment, a spokeswoman for Vinted declined to provide a statement.
In other business news, the Chancellor has announced the cancellation of NatWest’s shares plan, McDonald’s has experienced a decline in sales worldwide, and a potential bidder for Royal Mail is currently in talks over a £3.6 billion deal.
