THE NAGA GROUP AG goes public with Heuking Kühn Lüer Wojtek
A team led by Dr. Thorsten Kuthe and Dr. Christoph Gringel advises FinTech company THE NAGA GROUP AG (NAGA) on its IPO. Heuking Kühn Lüer Wojtek acts as a transaction counsel for Hauck&Aufhäuser and NAGA. Listing of the shares is scheduled for July 10, 2017 on the open-market Scale segment – subject to earlier completion of the subscription. The offer is based on the securities prospectus approved by the German Financial Supervisory Authority (BaFin) on June 6. This is only the second IPO on Frankfurt Stock Exchange’s new Scale segment.
Up to 1 million new NAGA shares will be offered for subscription from June 8 likely up to June 29, 2017. The public offering is aimed at private and institutional investors in Germany, Austria, and Spain. In addition, there will be a placement in Switzerland.
As an innovative factor, subscriptions may also be made via NAGA's own trading app SwipeStox or the company's website at preferential terms.
In view of capital measures successfully concluded at the end of Q!/2017, NAGA is already very well financed for the planned company growth, which is why the IPO is particularly aimed at raising the company’s profile reputation as well as the development and developing its equity, including as a currency for further expansion.
Heuking Kühn Lüer Wojtek had already advised NAGA on financing by Chinese investment group FOSUN International in Q1/2017. The advice included, among other things, the issuing of a convertible bond.
THE NAGA GROUP was founded in August 2015. The FinTech company aims to drive development and growth of disruptive applications in financial technology and thus to contribute to change and opening up of the existing financial system. NAGA maintains offices at six sites in three European countries. In the future, additional sites such as Shanghai and New York will be set up to address potential partners on the U.S. and Asian markets.
Counsel to THE NAGA GROUP AG
Heuking Kühn Lüer Wojtek:
Dr. Thorsten Kuthe (Lead, Capital Markets), Cologne
Dr. Christoph Gringel (Lead, Banking and Capital Markets), Frankfurt
Michael Neises, (Banking and Capital Markets), Frankfurt
Miriam Schäfer (Capital Markets), Düsseldorf
Anna Richter, LL.M. (all Capital Markets), all Cologne
Johanna Stremnitzer, LL.M. (Banking and Capital Markets), Frankfurt
Dr. Lutz Martin Keppeler (both IT/IP), both Cologne
Fabian G. Gaffron (Tax), Hamburg
L2C Luecke & Partner:
Andreas Luecke (Corporate), Hamburg
MONEREO MEYER MARINEL-LO ABOGADOS S.L.P.
Cerha Hempel Spiegelfeld Hlawati Rechtsanwälte GmbH