Gleiss Lutz has advised global coordinator and bookrunner Crédit Agricole CIB on the IPO of Adler Modemärkte AG as transaction counsel. Gleiss Lutz’ role also included the lead on preparing the prospectus.
The price range within which the shares will be offered is EUR 10.00 to EUR 12.50 per share. The offer comprises a total of 11,629,950 shares, 2,650,000 of which are new shares from a capital increase of the company, 7,463,000 existing shares of the current shareholder, a bluO Group company, and a further 1,516,950 existing shares of the current shareholder’s portfolio to cover over-allotments (greenshoe option). If the greenshoe option is exercised in full this would result in a total of approx. EUR 145.4 million in funds raised.
Subscription orders for shares of Adler Modemärkte AG may be placed during the offering period from 30 May 2011 up until around 14 June 2011. The shares are expected to commence trading on the Prime Standard of the Frankfurt Stock Exchange on 16 June 2011.
Adler is one of the leading textile retailers in Germany, Austria and Luxembourg, and has been in business for over 60 years. Adler intends to use the funds raised through the IPO to further expand its operations.
Crédit Agricole CIB was advised by the following team of Gleiss Lutz lawyers: Dr. Stephan Aubel (partner, lead), Melanie Doser, Angela Brücken, Michael Obst (all corporate and capital markets, Frankfurt), Dr. Thomas Winzer (partner), Verena Hechenblaikner (both employment, Frankfurt), Dr. Herwig Lux, Dr. Dennis Amschewitz (both IP, Stuttgart), Dr. Michael Marquardt (partner) and Michael Krack (both tax, Frankfurt).
Following the advising of the consortium banks on the IPO of Derby Cycle AG, this is already the second IPO in 2011 overseen by a capital markets team headed up Dr. Stephan Aubel at the Frankfurt office.
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