HelloFresh – Noerr advises world's leading meal kit company on its IPO in Frankfurt as well

A Noerr team led by Christian Pleister has as corporate counsel provided HelloFresh SE with stock corporation law advice in connection with its successful IPO yesterday. Noerr has already advised HelloFresh in recent years on all financing rounds and key transformation measures, as well as the annual general meetings of the German stock corporation and the later SE. HelloFresh shares have since last week been traded on the EU Regulated Market (Prime Standard) of the Frankfurt Stock Exchange.

The shares of the world's leading meal kit company were offered within the scope of a public offer in Germany and Luxembourg, as well as via private placements in certain additional jurisdictions. With a final offer price of €10.25 per share, market capitalisation is €1.6 billion (without exercising the greenshoe option) and €1.7 billion (after completely exercising the greenshoe option). After going public, the initial share price was established at €10.60. The offer was subscribed over the entire price range and oversubscribed several times for the issue price. All shares offered were placed in the course of the IPO.

The entire gross proceeds of the IPO are approximately €277 million without the greenshoe option and approximately €318 million after the greenshoe option is exercised in full. The net proceeds will go exclusively to HelloFresh SE and are intended to finance the company’s further growth and further expand its leading position worldwide.

The most recent capital markets transactions advised on by Noerr include the advice provided to Rocket Internet on the sale of a €660 million package of shares in Delivery Hero to Naspers, as well as the IPO of Delivery Hero and the IPO of trivago in New York (the largest NASDAQ IPO of a German company in recent years). Noerr also advised Rocket Internet SE and Zalando SE in the run-up to their respective IPOs.

Advisors to HelloFresh SE: Noerr LLP

Professor Christian Pleister (team lead, Private Equity, Frankfurt/Berlin), Dr Ralph Schilha (Capital Markets, Munich), Michael Sturm (Corporate/M&A), Jasmin Wagner (Capital Markets, Munich), Janine Telke, Manuel Weiß (both Private Equity, Berlin)

Inhouse: Dr Christian Ries (General Counsel), Michael Sturm (Deputy General Counsel)