Zalando could shorten IPO subscription due to demand

FRANKFURT, Germany - Zalando, Europe's biggest online fashion retailer, is considering shortening the subscription period for its initial public offering due to strong demand, sources familiar with the plans told Reuters.

Three financial sources said Zalando would close the books for the IPO one or two days earlier than planned as it is already oversubscribed.

Zalando, which had been expected to list on the Frankfurt exchange on Oct. 1, declined to comment.

In an indication of robust demand, Zalando shares are already trading in the gray market well above the 18.00 to 22.50 euros per share price range set last week.