Noerr has advised Rocket Internet on the successful IPO of home24 SE. Since last Friday, the company’s shares are traded on the regulated market (Prime Standard) of the Frankfurt Stock Exchange.
The shares of the leading European online home & living e-commerce platform were offered in a public offering in Germany and Luxembourg as well as through private placements in certain other jurisdictions. With a final offer price of €23.00 per share, market capitalisation – after full exercise of the greenshoe option – amounts to around €600 million. The first trading price was €28.50. Gross proceeds from the IPO come to around €150 million, or €172.5 million if the greenshoe option is fully exercised. All net proceeds from the offer will go to home24. As part of the IPO, Rocket Internet acquired shares worth €22 million and still holds more than 30 per cent of the shares in the company after the IPO.
As home24’s largest shareholder, Rocket Internet relied on the advice of Noerr during the IPO. The firm has recently overseen numerous major IPOs. These include in particular the initial public offering of HelloFresh, the billion-euro IPO of Delivery Hero (also on the Rocket Internet side) and the NASDAQ IPO of Trivago.
Advisors to Rocket Internet SE: Noerr LLP
Felix Blobel (Private Equity, Berlin), Dr Julian Schulze De la Cruz (Capital Markets, Frankfurt), Dr Sascha Leske (Private Equity, Berlin/New York); Associate: Philip M. Schmoll (Capital Markets, Frankfurt)
The original press release can be found here on Noerr’s website.