Rocket Internet CEO stands to lift stake via options: report

By Reuters

Sep 20, 2014 11:58 AM EDT

Oliver Samwer, chief executive and co-founder of Rocket Internet is in a position to increase his stake in the German venture capital firm under a stock options program that will be part of its planned stock market listing, a German magazine report said on Saturday.

Samwer stands to receive options that entitle him to buy 4.5 million shares, or about 4 percent of the current share capital, at an unspecified discount over the next five years, based on certain business performance targets, weekly WirtschaftsWoche said, citing a document it obtained.

The company's spokesman, who declined to comment to WirtschaftsWoche, could not immediately be reached by Reuters outside regular business hours.

Rocket this month unveiled plans for a stock market listing that could value the company behind dozens of online start-ups at $6.5 billion, riding a wave of e-commerce flotations.

Receiving the options is contingent on the company establishing four new e-commerce ventures per year, on average, and on Rocket's market value not falling below 4 billion euros ($5 billion) over certain periods of time, WirtschaftsWoche said.

The Samwer brothers Oliver, Alexander and Marc own 52.3 percent of the existing Rocket stock between them.

Executive directors Peter Kimpel and Alexander Kudlich stand to receive options for 1.2 million shares in total, the magazine said.

Berlin-based Rocket has said its share offer would consist solely of new stock and it would use the proceeds to fund growth by launching new businesses and provide more capital for existing companies.

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