Noerr advises Hamburg-based online designer fashion market place “Rebelle.com” on IPO in Stockholm

A Noerr team lead by Hamburg-based partner Stephan Schulz has advised StyleRemains GmbH on its IPO on the Nasdaq First North Growth Market, the first direct IPO of a German company’s stock on the Swedish Nasdaq.

StyleRemains GmbH operates “Rebelle.com”, an online marketplace for second hand designer fashion items. The company is targeting the “Green Equity Designation”, a title Nasdaq awards to enterprises that act in a particularly eco-friendly and sustainable way.

In this offering, new shares from a capital increase were placed at a price of SEK 28 per share (approx. € 2.64), which translates into a market capitalization at the placement price of approx. SEK 626 million (approx. € 60 million) post IPO.

The IPO was implemented by way of a public offering in Sweden and Denmark by Rebelle AB, a Swedish holding company established for this particular purpose, and a private placement to institutional investors in Sweden and abroad.

Noerr provided StyleRemains GmbH with advice on matters relating to German company and capital markets law, and in particular regarding the contribution of the GmbH shares into Rebelle AB, the transition of the existing management remuneration system, as well as the due diligence process for the preparation of the prospectus.

Advisors to StyleRemains GmbH with respect to German law: Noerr Partnerschaftsgesellschaft GmbH

Lead: Stephan Schulz (partner, equity securities and capital markets law, Hamburg)

Corporate and capital markets law
Jörg-Peter Kraack (associated partner), Jan Hoffmann Linhard, Juri Stremel (senior sssociates, Hamburg)

Tax law
Elmar Bindl (partner), Marius Siemen (senior associate, Munich)

Labor law
Wolfgang Wittek (associated partner, Hamburg)


Additional advisors
Gernandt & Danielsson Advokatbyrå KB (Sweden)