Dutch online white goods and electronics retailer Coolblue will float on the Amsterdam stock exchange this month, the company confirmed on Friday.

The IPO will consist of a primary offering of new ordinary shares and a secondary offering of existing ordinary shares. Rotterdam investment house Hal currently owns 49% of the company and is known to have been looking into a flotation.

The proceeds will be used to finance the company’s further geographical growth, and ‘to provide financial flexibility to explore new business opportunities’, Coolblue said.

‘This is the next logical step in Coolblue’s development,’ chief executive Pieter Zwart said in a statement. Zwart owns around 50% of the shares.

He founded Coolblue in 1999 with student friends to sell mp3 players. The company now sells a wide range of household equipment, from fridges to solar panels and also offers customers an installation service.

The group has 17 physical stores in the Netherlands and Belgium as well as its online presence. It is also expanding into Germany.

Insiders have told the Financieele Dagblad the company could be worth between €3bn and €4bn.