Marley Spoon has lodged a prospectus with the ASX to raise approximately $70 million through an IPO.

The meal kit delivery provider on Wednesday announced its offer of CHESS Depository Interests (CDI), a type of security that allows international companies to trade on the ASX, at an offer price of $1.42 per CDI.

The offer comprises institutional, broker firm and chairman’s list offers, but no general public offer of CDIs will be made under the offer.

It is expected that trading of CDIs on the ASX will commence on 2 July under the ticker MMM.

The majority of funds raised will be used to support the continued growth of Marley Spoon’s existing and potential customer base, according to a statement provided by the company.

“As we continue to experience strong growth in our markets, in particular the Australian market, we believe an ASX-listing provides the ideal platform to build our major consumer brands – Marley Spoon, Martha & Marley Spoon, and Dinnerly – for the coming years,” said Marley Spoon CEO Fabian Siegel.

Launched in Germany in 2014 by Fabian Siegel and Till Neatby, Marley Spoon is active in six markets, including Australia, the US, Austria, Belgium, Germany and The Netherlands, and has approximately 111,000 active customers.

It is a key player in the increasingly competitive global meal kit space. While HelloFresh is larger – both in terms of customers and revenue – Marley Spoon is considered the second-biggest player in Australia, which accounts for 37 per cent of the company’s total revenue and where one-third of its total workforce is based.

More to come.