German e-commerce investor Rocket Internet reported progress on Thursday in cutting losses at its main start-ups with three set to generate profits by the end of 2017, while its shares were lifted by a plan to buy back convertible bonds. Rocket Internet shares, which have been hit by concerns about mounting losses and cuts to the valuation of some of its leading start-ups, were up 2.7 percent by 0731 GMT (03:31 a.m. EDT), but were still down 30 percent on the year. Finance chief Peter Kimpel said Rocket was still working toward a goal of a public listing for one of its 10 main start-ups in food delivery, fashion and home furnishings in the coming months, but said timing would depend on market conditions.
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Rocket Internet trims losses, increases debt buyback
