Online marketplace Vinted has launched a share sale that could value the company at $5bn (£3.9bn).
Investors have reportedly been contacted to assess their interest in a secondary stock offering for Europe’s largest second-hand online marketplace, Sky News reported.
A share sale is expected to involve existing stakeholders reducing or offloading their positions in the company.
The report added that should the deal be successful, between $200m and $500m (£156m and £390m) worth of Vinted shares could change hands.
While no new shares will be created, investors and bosses at the Lithuanian marketplace are believed to be pinning their hopes on achieving the $5bn valuation.
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Back in April, Vinted revealed it had made a profit for the first time following a “strong” year of growth.
The business made a net profit of €18m last year versus a loss of €20m in 2022. Sales surged 61% year on year to reach €596.3m.
Last year, it also expanded to Denmark, Finland and Romania in a bid to move away from solely being a marketplace to offer other services such as Vinted Go, a shipping service that uses lockers for customers to deliver and collect clothes in France.
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