Noerr advises Westwing on stock exchange debut in Frankfurt
Noerr has advised Westwing Group AG on its successful initial public offering in Frankfurt. Since October 9, 2018, the company’s shares have been traded on the regulated market (Prime Standard) of Frankfurt Stock Exchange. Westwing is the leader in inspiration-based Home & Living eCommerce in Europe.
The shares were offered in a public offering in Germany and Luxembourg as well as through private placements in certain other jurisdictions. A total of 5,060,000 shares, of which 660,000 shares are considered to cover over-allotments, were placed in the IPO. The company set the final offer price at €26 per share. The offer period was shortened due to strong investor demand for Westwing shares. All proceeds will accrue exclusively to the company. The company intends to use the proceeds primarily to invest in its technology platform and customer experience as well as for further international market growth. In addition, part of the proceeds from the offering are to be used to pay off debts.
During the IPO, Westwing relied on a team from Noerr led by Ralph Schilha and Dominik Rompza. The advice covered the company’s change in legal form from a German limited liability company (“GmbH”) to a public limited company (“Aktiengesellschaft”) as well as all the preparatory capital-related and other structural measures. The team also advised on the shareholders’ agreement and other existing agreements with the shareholders.
Other significant IPO mandates in the recent past include Noerr’s representation of HelloFresh in its stock-exchange debut, Rocket Internet in the billion-euro IPO of Delivery Hero, Mutares on the IPO of STS Group AG and Trivago on its IPO on the NASDAQ.
Advisors to Westwing Group AG: Noerr LLP
Dr Ralph Schilha (Capital Markets, Munich), Dr Dominik Rompza (Private Equity, Berlin, joint lead), Dr Sascha Leske (Private Equity, Berlin/New York), Dr Florian-Felix Marquardt (Tax, Berlin), Dr Julian Schulze De la Cruz (Capital Markets, Frankfurt)
Associates: Anne-Kristin Schiller, Jochen Lang, Dr Ricarda-Charlotte Lorenz (all Capital Markets, Munich), Francesc Lloveras Calvo, Lucie Rohr (both Private Equity, Berlin), Dr Philip Maximilian Schmoll (Capital Markets, Frankfurt)
Inhouse: Lorenz Erik Wittjen (General Counsel), Yasmin Grünewald (Legal Counsel)