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UPDATE 1-Germany's HelloFresh prices IPO at 10.25 euros per share, centre of range

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* Expects to earn 318 mln euros from IPO

* Stock due to start trading on Thursday (Adds CEO comment, detail and background)

BERLIN/FRANKFURT, Nov 1 (Reuters) - Loss-making German meal-kit-delivery group HelloFresh on Wednesday priced its initial public offering (IPO) at 10.25 euros ($11.91) per share, the centre of an indicative price range of 9 to 11.50 euros.

The group said it would earn about 318 million euros from the IPO if the greenshoe option, allowing the sale of more shares than originally planned, was fully exercised. It said it would use the proceeds to fund further growth.

HelloFresh is selling 31 million new shares including an overallotment option, implying a valuation of the company of about 1.7 billion euros.

The company decided to go ahead with its renewed listing despite a 50 percent decline in shares in U.S. rival Blue Apron since the group's June IPO.

Two years ago, HelloFresh cancelled a planned IPO after investors rejected a higher valuation.

Its stock is due to start trading on the Frankfurt stock exchange on Thursday.

HelloFresh's largest market is the United States, where it is spending heavily on discounts and advertising to compete with rivals like Blue Apron and Plated.

The group is majority-owned by German e-commerce investor Rocket Internet, which listed in 2014 with a pledge to be a launch pad for floating start-ups. Volatile markets meant it had to wait until this year for its first success, with takeaway firm Delivery Hero.

HelloFresh, which delivers meal ingredients and recipes in 10 countries, aims to break even on an operating level, or adjusted EBITDA, within the next 15 months.

Its net loss stood at 56.7 million euros in the first half of 2017 on revenues of 435 million euros. (Reporting by Andreas Cremer and Maria Sheahan; Editing by Edmund Blair)