With a team led by Dr. Thorsten Kuthe, Partner at the commercial law firm's Cologne office, Heuking Kühn Lüer Wojtek advised German Startups Group Berlin GmbH & Co. KGaA on its IPO in the Entry Standard of Frankfurt Stock Exchange. The Berlin-based investment company focuses on young, rapidly growing companies ("startups"). The proceeds of the IPO will serve to expand the investment portfolio.
The offering period, in which bids for shares may be submitted, will start on July 8, 2015 and is expected to run to July 16, 2015. Trading on Frankfurt Stock Exchange (Entry Standard) is expected to commence on July 17, 2015. As one of the first issuers, German Startups Group offers the opportunity to submit bids directly on its website via an online subscription tool. The price range is between EUR 2.70 to EUR 3.60 per share. Based on a price of EUR 3.15 per share offered (mid-price range) and presuming that all shares will be placed with investors and the greenshoe options will be fully exercised towards the company and its shareholders, total net proceeds will amount to EUR 64.1 million. German Startups Group is expected to receive EUR 61.6 million thereof, while the existing shareholders will obtain EUR 2.5 million if the greenshoe option is fully exercised by the banks.
Commerzbank AG will act as sole global coordinator/joint bookrunner, with Aufhäuser Hauck & Privatbankiers KGaA, BHF-BANK AG, and Quirin Bank AG acting as joint bookrunners.
German Startups Group is an investment company headquartered in Berlin and focuses on fast-growing startups. It acquires majority and minority interests, in particular by providing venture capital. The Berlin-based investor's portfolio comprises digital companies such as Delivery Hero, Amorelie, SoundCloud or Wundercar. The sale of ad tech startup Fyber allowed the investment company to record a successful exit last year.
The team led by capital market expert Kuthe advised both on preparing for the IPO, including the regulatory aspects under the German Investment Code, and on converting the company into a partnership limited by shares and several pre-IPO capital measures.
Counsel to German Startups Group Berlin GmbH & Co. KGaA
Heuking Kühn Lüer Wojtek:
Dr. Thorsten Kuthe (Lead),
Felicitas Boehm, LL.M. (Regulatory Law, Capital Markets),
Stefan Westerheide, LL.M.,
Dr. Jörg aus der Fünten (all Corporate), all Cologne
Dr. Michael Dröge,
Fabian Gaffron, all Hamburg
Dr. Christoph Gringel (all Regulatory Law), Frankfurt
Dr. Lutz Martin Keppeler (Consumer Protection Law), Cologne