Noerr successfully advises the IPO of fashionette AG on the Frankfurt Stock Exchange

28.10.2020

Noerr advised Hauck & Aufhäuser and fashionette AG ("Company") on the successful IPO of  the Company on the Frankfurt Stock Exchange. The shares of the Company will be included in trading in the Scale segment of the Regulated Unofficial Market of the Frankfurt Stock Exchange from 28 October 2020. The company is a leading European online platform for premium and luxury fashion accessories with a focus on the region of Germany, Austria and Switzerland.

In the course of the IPO, a total of 3,605,000 ordinary bearer shares (no-par shares) were placed with international institutional and private investors in Germany at a price of EUR 31.00 per share, corresponding to an initial market capitalization of approximately EUR 192 million. The placement comprised 1,200,000 new shares from a capital increase and 2,405,000 shares from the portfolio of Genui Fund GmbH & Co. KG, including 405,000 shares in connection with an over-allotment option ("Greenshoe Option").

Assuming full exercise of the Greenshoe option, the total offer volume amounts to approximately EUR 112 million. The gross proceeds attributable to the Company amount to approximately EUR 37 million. The Company plans to use the net proceeds of the offering primarily to accelerate the growth of its existing business through marketing and customer acquisition initiatives, to make selective acquisitions to drive geographic expansion and product line extension and to make targeted investments in its IT platform.

Hauck & Aufhäuser acted as Sole Global Coordinator and Sole Bookrunner for the IPO.

Legally, a Noerr team led by Dr. Julian Schulze De la Cruz accompanied the IPO. Noerr also successfully advised Compleo Charging Solutions on its IPO on the regulated market (Prime Standard) of the Frankfurt Stock Exchange. In addition, Noerr has successfully advised on several other share issues this year, including the capital increases of DFV Deutsche Familienversicherung AG, Deutsche Konsum REIT-AG, Deutsche Industrie REIT-AG and windeln.de SE.

Advisors to Hauck & Aufhäuser and fashionette AG: Noerr LLP

Dr. Julian Schulze De la Cruz (lead), Dr. Holger Alfes, Dr. Laurenz Wieneke, Dr. Dominik Kloka (all Capital Markets, Frankfurt), Dr. Stephan Schulz (Capital Markets, Hamburg), Tillmann Hecht (Employment, Frankfurt), Dr. Christoph Rieken (IP, Munich)

Associates: Dr. Philip Schmoll, Thomas Thies, Dr. Dirk Buken (all Capital Markets, Frankfurt), Dr. Jan Hoffmann Linhard (Capital Markets, Hamburg), Janine Fischer (Employment, Frankfurt)

Legal advisor US law: Travers Smith LLP

Andrew Gillen, Brent Sanders

Legal advisor Ontario/Manitoba (Canada): Osler LLP

John M. Valley, Sandra Malcolm, Mable Lam