HelloFresh, a meal kit delivery firm controlled by Rocket Internet, said Tuesday that it plans to raise around €300 million ($350 million) from an initial public offering on the German stock exchange that could value the group at close to €2 billion.

"The public listing marks the next logical step to further expand our business, to secure our position as the leading global player and to pursue our long-term growth strategy," said CEO Dominik Richter. Global coordinators on the deal include Berenberg, Deutsche Bank, JP Morgan, Morgan Stanley and BNP Paribas.

Berlin-based HelloFresh had sales of €435.4 million in the six months ending in June, according to the group's most recent earnings statement, but posted an operating loss of €52.9 million. It also operates in nine U.S. markets and competes with Blue Apron Holdings (APRN)  

HelloFresh is 53% owned by Rocket Internet SE, a tech investment fund that backed the June listing of Delivery Hero AG, an online food delivery firm, which was brought to the market at a price of €25.50 each that raised more than €1 billion ($1.14 billion) for its early investors. The Berlin-based group now has a market value of €6.8 billion, based on Monday's close price of €35.08.

Blue Apron's launch on the New York Stock Exchange, however, was largely disappointing, with investors avoiding the much-hyped IPO -- despite its cut-rate price -- and markin the new shares unchanged at $10 each by the end of a lackluster session in which only 41 million changed hands.

Since then, Blue Apron shares have fallen 48.5% to $5.15 as the company struggled with order flow and input costs and found itself challenged by Amazon Inc.'s (AMZN) plans to enter the meal-kit delivery market after its $15 billion acquisition of Whole Foods Markets. (WFM)

The HelloFresh listing extends a solid run for European IPOs, where, along with the middle east and Africa region, more than $10.3 billion in new proceeds were raised from 74 new listings in the third quarter of this year, taking the year-to-date total to just over $37.1 billion, according to EY's Global Trends report, a comprehensive look at initial public offerings through the first three quarters of the year.

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