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Rocket Internet shareholders back delisting

BERLIN, Sept 24 (Reuters) - Shareholders in German tech investment company Rocket Internet voted on Thursday to support its plans to delist its shares to allow the company to pursue a more long-term approach to investing.

Investors have long suggested that Rocket Internet, with a market capitalisation of 2.6 billion euros ($3.03 billion), would be better off going private again since it successfully listed all the major firms it helped found, including Delivery Hero, HelloFresh and Home24.

Listed on the Frankfurt stock exchange in 2014, Rocket’s shares have mostly traded well below their issue price of 42.50 euros and below the combined value of the cash on its balance sheet and its own valuation of its remaining investments.

Oliver Samwer, the company’s founder and chief executive whose investments in tech companies have made him one of Germany’s richest men, will hang on to his 4.53% stake in the company, as would his Global Founders fund which holds 45%. ($1 = 0.8577 euros) (Reporting by Nadine Schimroszik Editing by Riham Alkousaa)

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