Frankfurt a.M. — McDermott Will & Emery advises Friedrich Vorwerk Group SE on its successful IPO in the Prime Standard segment of the Frankfurt Stock Exchange.
A total of 9.2 million shares were placed at a price of 45 euros per share. Of this amount, 2.0 million came from a capital increase and 6.0 million from the holdings of the existing shareholders MBB SE and ALX Beteiligungsgesellschaft mbH. In addition, 1.2 million shares were allotted to existing shareholders under an over-allotment option. The total placement volume thus amounts to 414 million euros. The first day of trading on the Regulated Market of the Frankfurt Stock Exchange is expected to be March 25, 2021.
The IPO was supported by Berenberg and Jefferies as Joint Global Coordinators and by Hauck & Aufhäuser as Joint Bookrunner.
“The IPO gives us the opportunity to play a decisive role in shaping the energy transition and, in particular, to expand in the growing markets for hydrogen and the expansion of electricity highways,” says Torben Kleinfeldt, CEO of the Vorwerk Group and shareholder, explaining the company’s decision to go public.
Friedrich Vorwerk is a leading provider of energy infrastructure solutions for gas, electricity and hydrogen applications. Friedrich Vorwerk plans to use the gross proceeds of 90 million euros from the newly issued shares to significantly expand its business over the next few years, particularly in the areas of electricity and clean hydrogen.
McDermott has a long-standing client relationship with the medium-sized, family-owned investment company MBB SE. McDermott already advised MBB subsidiary Aumann AG on its IPO in 2017.
Advisors to Friedrich Vorwerk Group SE: McDermott Will & Emery, Frankfurt
Simon Weiß, Joseph W. Marx (both Capital Markets, both Lead), Dr. Philipp Grenzebach (Corporate, Düsseldorf), Edwin C. Laurenson (Senior Counsel, Capital Markets, San Francisco/New York); Associates: Isabelle Müller, Elena Platte, LL.M., Christoph Schäfer, Tom Schäfer (all Corporate)
About McDermott Will & Emery
McDermott Will & Emery is a leading international law firm. With over 1,200 attorneys, we are represented in 21 locations worldwide: Atlanta, Boston, Brussels, Chicago, Dallas, Düsseldorf, Frankfurt a. M., Houston, Cologne, London, Los Angeles, Miami, Milan, Munich, New York, Orange County, Paris, San Francisco, Silicon Valley, Washington, D.C. and Wilmington. The German practice is managed by McDermott Will & Emery Rechtsanwälte Steuerberater LLP. www.mwe.com