BERLIN - German fashion e-tailer About You set a price range of 21 to 26 euros per share on Tuesday for its stock market listing, putting a prospective valuation of around 4 billion euros ($4.9 billion) on the business.

The Hamburg startup will sell new shares worth 600 million euros via a private placement as part of its flotation, and invest proceeds in international expansion and in its business-to-business technology platform.

About You, which operates in 23 European markets, competes with Zalando in the consumer segment while its B2B platform pits it against Shopify, SAP and Salesforce.

"We look forward to broadening our investor base as we push ahead with our vision to become the leading global fashion platform," said co-founder Tarek Mueller.

About You reported 57% revenue growth to 1.17 billion euros in the year to February, and in the last quarter achieved its first positive core profit since its launch in 2014. 

The company, backed by mail order group Otto and Danish tycoon Anders Holch Povlson, also made several appointments to its supervisory board, which will be chaired by Otto executive Sebastian Klauke.

About You said it would sell 28.6 million new shares in the private placement while existing shareholders will sell a further 8.4 million shares including an overallotment option.

Its free float will amount to between 21.2% and 21.7% after the listing. The private placement is expected to end on June 14, with the first day of trading on the Frankfurt stock exchange on June 16.

Deutsche Bank, Goldman Sachs, and J.P. Morgan are acting as Joint Global Coordinators and Joint Bookrunners, with Numis Securities, Société Générale and UBS Investment Bank also acting as Joint Bookrunners. ($1 = 0.8211 euros)

(Reporting by Douglas Busvine Editing by Caroline Copley) ((douglas.busvine@tr.com; +49 30 220 133 562;))