SNP Schneider-Neureither & Partner
Ticker: SHF GY
Country: Germany
Sector: IT Services
Listing: Frankfurt Stock Exchange (Prime Standard)
Market Cap pre Transaction: c. EUR 100m
Offer Structure: c. 1.1m primary shares (c. EUR 19m)
Subscription Price: EUR 16.60 per share (c. 7.4% discount to TERP)
Subscription Ratio: 5:1 (i.e. 5 existing shares for 1 new share)
Use of proceeds: The company intends to use the net proceeds to improve liquidity and, as a result, reduce their net debt, as well as to increase its financial flexibility. In addition, net proceeds shall be used to finance the international expansion strategy and for further inorganic growth
Berenberg Role: Sole Global Coordinator & Sole Bookrunner
Syndicate: Berenberg (Sole Global Coordinator & Sole Bookrunner)
Timing:
- Publication of prospectus: 28 November 2018
- Ex-rights day/start of subscription period and rights trading: 29 November 2018
- End of rights trading: 07 December 2018
- End of subscription period: 13 December 2018
- Results announcement: 14 December 2018
- First day of trading of new shares: 19 December 2018
Xeros Technology PLC
Ticker: XSG LN
Country: United Kingdom
Sector: Specialty Chemicals
Listing:London Stock Exchange (AIM Market)
Market Cap pre Transaction: c. GBP 20m
Offer Structure: 150,000,000 primary shares (c. EUR 15m)
Issue Price: GBP 00.10 per share
Use of proceeds: Use of the proceeds to deliver a number of identified commercial milestones
Berenberg Role: Joint Global Coordinator & Joint Bookrunner
Syndicate: Berenberg (Joint Global Coordinator & Joint Bookrunner), Jefferies (Joint Global Coordinator & Joint Bookrunner)
Timing:
- Launch: 27 November 2018
- Pricing: 28 November 2018
Alpha FMC
Ticker: AFM LN
Country: United Kingdom
Sector: Professional Services
Listing: London Stock Exchange (AIM Market)
Market Cap pre Transaction: c. GBP 230m
Offer structure: c. 4.5m secondary shares (c. GBP 9.7m)
Issue Price: GBP 2.18 per share
Berenberg Role: Sole Bookrunner
Syndicate: Berenberg (Sole Global Coordinator & Sole Bookrunner)
Timing:
- Launch: 03 December 2018
- Pricing: 03 December 2018
Asiamet Resources PLC
Ticker: ARS LN
Country: United Kingdom
Sector: Other Mined Materials
Listing:London Stock Exchange (AIM Market)
Market Cap pre Transaction: c. GBP 43m
Offer Structure: c. 61m primary shares (c. GBP 2.6m)
Issue Price: GBP 4.25 per share
Use of proceeds: The company will use the proceeds for completing the BKM feasibility study, for drilling walk up targets in the BK area (subject to permitting), further evaluation and metallurgical program at Beutong and for general working capital purposes
Berenberg Role: Sole Global Coordinator & Sole Bookrunner
Syndicate: Berenberg (Sole Global Coordinator & Sole Bookrunner)
Timing:
- Launch: 28 November 2018
- Pricing: 28 November 2018
Deutsche Konsum REIT-AG
Ticker: DKG GY
Country: Germany
Sector: Real Estate
Main Listing:Regulated Market of Frankfurt Stock Exchange (Prime Standard)
Market Cap pre Transaction: c. EUR 300m
Offer Structure: 2,723,631 primary shares (c. EUR 30m)
Issue Price: EUR 11.00 per share
Use of proceeds: The net proceeds from the capital increase shall be used to finance identified acquisition opportunities in order to continue the Company’s successful growth in the future
Berenberg Role: Sole Global Coordinator & Sole Bookrunner
Syndicate: Berenberg (Sole Global Coordinator & Sole Bookrunner), ODDO BHF (Co-Lead Manager)
Timing:
Launch: 21 November 2018Pricing: 22 November 2018First Day of Trading: 26 November 2018
AlzChem Group AG
Ticker: SFP1 GY
Country: Germany
Sector: Specialty Chemicals
Listing:Regulated Market of Frankfurt Stock Exchange (Prime Standard)
Market Cap pre Transaction: c. EUR 316m
Offer Structure: 20,454,546 secondary shares (c. EUR 45m)
Offer Price: EUR 2.20 per share
Berenberg Role: Sole Global Coordinator & Sole Bookrunner
Syndicate: Berenberg (Sole Global Coordinator & Sole Bookrunner)
Timing:
Launch: 17 October 2018Pricing: 17 October 2018
Knorr-Bremse AG
Knorr-Bremse AG is the global market leader for braking systems and a leading supplier of other safety-critical rail and commercial vehicle systems
Issuer: Knorr-Bremse AG
Ticker: KBX GY
Country: Germany
Sector: Capital Goods
Listing: Regulated Market of Frankfurt Stock Exchange (Prime Standard)
Final Offer Structure:
- Total: 48,102,149 shares (c. EUR 3.8bn)
- Secondary: 43,103,479 shares (c. EUR 3.4bn)
- Greenshoe (secondary): 4,998,670 shares (c. EUR 400m)
Selling Shareholder: KB Holding GmbH
Initial Price Range: EUR 72.00 – EUR 87.00 per share
Final IPO Price: EUR 80.00 per share
Market Cap at IPO: c. EUR 12.9bn
Berenberg Role: Joint Bookrunner
Syndicate: Deutsche Bank, J.P. Morgan and Morgan Stanley (Joint Global Coordinators & Joint Bookrunners), Berenberg, Commerzbank, UBS and UniCredit (Joint Bookrunners)
Timing:
- ITF: 17 September 2018
- Investor Education: 17 September – 27 September 2018
- Bookbuilding: 1 October – 10 October 2018
- First Day of Trading: 12 October 2018
Westwing Group AG
Westwing Group AG is the leading inspiration-based Home & Living E-commerce brand and platform in Europe
Issuer: Westwing Group AG
Ticker: WEW GY
Country: Germany
Sector: E-Commerce
Listing: Regulated Market of Frankfurt Stock Exchange (Prime Standard)
Final Offer Structure:
- Total: 4,711.359 shares (c. EUR 122m)
- Primary: 4,400,000 shares (c. EUR 114m)
- Greenshoe (primary): 311,359 shares (c. EUR 8m)
Initial Price Range: EUR 23.00 – EUR 29.00 per share
Final IPO Price: EUR 26.00 per share
Market Cap at IPO: c. EUR 536m
Use of Proceeds: Primarily for investments in the technology platform, customer experience and to drive international market growth as well as a part for the repayment of debt
Berenberg Role: Joint Global Coordinator & Joint Bookrunner
Syndicate: Berenberg and Citi (Joint Global Coordinators & Joint Bookrunners)
Timing:
- ITF: 13 September 2018
- Investor Education: 13 September – 26 September 2018
- Bookbuilding: 28 September – 8 October 2018
- First Day of Trading: 9 October 2018
City Pub Group PLC
The City Pub Group owns and operates an estate of premium pubs across the southern half of England and Wales. The Group’s portfolio consists of predominantly freehold, managed pubs, offering a wide range of high quality drinks and food tailored to each of its pubs’ customers.
Ticker: CPC LN
Country: United Kingdom
Sector: Leisure
Listing: London Stock Exchange (AIM Market)
Market Cap pre Transaction: c. 128m GBP
Offer Structure: 2,823,365 primary shares
Issue Price: GBP 2.20 per share
Use of Proceeds: Capitalise on opportunities to selectively acquire more pubs and take advantage of softer pricing in the current market
Berenberg Role: Joint Global Coordinator & Joint Bookrunner
Syndicate: Berenberg, Liberum (Joint Global Coordinators & Joint Bookrunners)
Timing:
- Launch: 9 October 2018
- Pricing: 10 October 2018
- First Day of Trading: 15 October 2018
Learning Technologies Group
Learning Technologies Group plc (LTG) is a market-leader in the fast-growing workplace digital learning and talent management market. LTG offers large organizations a new approach to learning and talent in a business world driven by digital transformation.
Ticker: LTG LN
Country: United Kingdom
Sector: E-Learning
Listing: London Stock Exchange (AIM Market)
Market Cap pre Transaction: c. 932m GBP
Selling Shareholder: Jonathan Satchell, Annabel Carol Lea (a person closely associated with Piers Lea, the Chief Strategy Officer of the Company) and Tim Martin
Offer Structure: Sell-down of 31,309,353 secondary shares (c. GBP 41m)
Offer Price: GBP 1.30 per share
Berenberg Role: Joint Global Coordinator & Joint Bookrunner
Syndicate: Berenberg, Goldman Sachs, Numis (Joint Global Coordinators & Joint Bookrunners)
Timing:
- Launch: 8 October 2018
- Pricing: 8 October 2018
Burford Capital
Burford is the leading litigation finance provider globally. It invests in litigation assets via both its own balance sheet and third-party capital and also has insurance, and asset recovery/new initiatives operations
Ticker: BUR LN
Country: United Kingdom
Sector: Diversified Financials
Listing: London Stock Exchange (AIM)
Market Cap pre Transaction: c. GBP 4.1bn
Offer Structure: 10,411,898 primary shares (c. GBP 192.6m)
Issue Price: GBP 18.50 per share
Use of Proceeds: Capitalising on the expected trend of market growth and optimising the capital structure in view of future growth opportunities
Berenberg Role: Joint Global Coordinator & Joint Bookrunner
Syndicate: Berenberg and Numis (Joint Global Coordinators & Joint Bookrunners), Macquarie (Joint Bookrunner)
Timing:
- Launch: 1 October 2018
- Pricing: 2 October 2018
- First Day of Trading: 4 October 2018
Senvion S.A.
Senvion is a manufacturer of on- and offshore wind turbines ranging from 2MW to 6MW. The company has an installed base of 17GW.
Issuer: Senvion S.A.
Ticker: SEN GY
Country: Germany
Sector: Capital Goods / Renewables
Listing: Regulated Market of Frankfurt Stock Exchange (Prime Standard)
Market Cap pre Transaction: c. EUR 519m
Offer Structure: 8,116,883 primary shares (c. EUR 62.5m)
Issue Price: EUR 7.70 per share
Use of Proceeds: For growth investments, in particular to fund the Company’s expansion in new markets, such as India, by providing working capital and funding capital expenditures or such as Chile/Argentina and Australia, by investments in local mobile factories and for general corporate purposes
Berenberg Role: Sole Global Coordinator & Sole Bookrunner
Syndicate: Berenberg (Sole Global Coordinator & Sole Bookrunner)
Timing:
- Launch: 14 August 2018
- Pricing: 15 August 2018
- First Day of Trading: 20 August 2018
Victoria plc
Victoria is a manufacturer of wool and synthetic broadloom carpets, carpet tiles, underlay and flooring accessories in the UK and Australia
Issuer: Victoria plc
Ticker: VCP LN
Country: United Kingdom
Sector: Home Improvement
Listing: London Stock Exchange (AIM)
Market Cap pre Transaction: c. GBP 975m
Offer Structure: 7,314,626 primary shares (c. GBP 60.5m)
Issue Price: GBP 8.27 per share
Use of Proceeds: Part-financing the €96.7m acquisition of Cerámica Saloni
Berenberg Role: Joint Global Coordinator & Joint Bookrunner
Syndicate: Berenberg and Cantor Fitzgerald (Joint Global Coordinators & Joint Bookrunners)
Timing:
· Launch: 6 August 2018
· Pricing: 6 August 2018
· First Day of Trading: 7 August 2018
Ceres Power
Ceres Power is a fuel cell technology and engineering company, working with leading OEMs to commercialise its core technology (SteelCell) in mass-market energy products for the commercial, residential and transportation markets.
Issuer: Ceres Power Holdings plc
Ticker: CWR LN
Country: United Kingdom
Sector: Capital Goods / Fuel Cells
Listing: London Stock Exchange (AIM)
Market Cap pre Transaction: c. GBP 158m
Offer Structure: 132,625,994 primary shares (c. GBP 20m)
Issue Price: GBp 15.08 per share
Use of Proceeds: Providing sufficient capital to fully fund the business, financing a new manufacturing facility in the UK, enabling the company to industrialise the 5KW stack, providing funding for the JV with Weichai Power and strengthening the group’s balance sheet
Berenberg Role: Joint Global Coordinator & Joint Bookrunner
Syndicate: Berenberg and Zeus Capital (Joint Global Coordinators & Joint Bookrunners)
Timing:
- Pricing: 4 July 2018
- First Day of Trading: 27 July 2018
Cofinimmo SA
Cofinimmo SA is the largest property company in Belgium with a commercial portfolio of c. €3.5bn. Its main activities focus on offices in Belgium and healthcare properties in Belgium, France, Germany and the Netherlands. It recently also bought its first healthcare property in Germany
Issuer: Cofinimmo SA
Ticker: COFB BB
Country: Belgium
Sector: Real Estate
Listing: Regulated Market of Euronext Brussels
Market Cap pre Transaction: c. EUR 2.3bn
Offer Structure: 1,642,374 primary shares (c. EUR 155m)
Subscription Price: EUR 94.50 per share (c. 10.1% discount to TERP)
Subscription ratio: 13:1 (i.e. 1 new share for 13 existing shares)
Take-up ratio: 80.41%
Use of Proceeds: Financing the updated 2018 pipeline of committed investments and investments under due diligence, while maintaining a debt ratio of around 45%
Berenberg Role: Joint Bookrunner
Syndicate: BNP Paribas and ING (Joint Global Coordinators & Joint Bookrunners), Berenberg, Degroof Petercam, KBC Securities and Société Générale (Joint Bookrunners)
Timing:
- Publication of Prospectus: 20 June 2018
- Ex-rights Day / Start of Subscription Period and Rights Trading: 21 June 2018
- End of Rights Trading: 27 June 2018
- End of Subscription Period: 27 June 2018
- Results announcement: 28 June 2018
- First Day of Trading of New Shares: 2 July 2018
Eddie Stobart Logistics plc
Eddie Stobart is a logistics and supply chain services business specialising in end to end road haulage and contract logistics
Issuer: Eddie Stobart Logistics plc
Ticker: ESL LN
Country: United Kingdom
Sector: Logistics
Listing: London Stock Exchange (AIM)
Market Cap pre Transaction: c. GBP 505m
Offer Structure: 21,428,572 primary shares (c. GBP 30m)
Issue Price: GBp 140.00 per share
Use of Proceeds: For the acquisition of the Pallet Network Group Limited (“TPN”), a leading provider of pallet distribution services across UK and Ireland, for a total consideration of £52.8 million
Berenberg Role: Joint Global Coordinator & Joint Bookrunner
Syndicate: Berenberg and Cenkos (Joint Global Coordinators & Joint Bookrunners)
Timing:
- Pricing: 28 June 2018
- First Day of Trading: 29 June 2018
Yellow Cake
Yellow Cake plc is a specialist company operating in the Uranium sector, created to purchase and store Uranium Oxide, with the objective of offering exposure to Uranium prices
Issuer: Yellow Cake plc
Ticker: YCA LN
Country: United Kingdom
Sector: Metals & Mining
Listing: London Stock Exchange (AIM Market)
Final Offer Structure:
- Total: 76,101,290 shares (c. USD 202m)
- Primary: 76,101,290 shares (c. USD 202m)
Fixed IPO Price: GBp 200.00 per share
Market Cap at IPO: c. USD 202m
Use of Proceeds: 90-95% of the proceeds will be used to purchase Uranium Oxide with the remainder for commercial purposes.
Berenberg Role: Joint Global Coordinator & Joint Bookrunner
Syndicate: Berenberg, Numis (Joint Global Coordinator & Joint Bookrunner)
Timing:
- ITF: 1 June 2018
- Investor Education: 1 June – 8 June 2018
- Bookbuilding: 18 June – 25 June 2018
- First Day of Trading: 5 July 2018
Tsakos Energy Navigation Limited
Tsakos Energy Navigation (TNP) is an owner and operator of a crude oil and petroleum product tanker fleet, along with LNG carriers and shuttle tankers
Issuer: Tsakos Energy Navigation Limited
Ticker: TNP PR F (fixed-to-floating rate cumulative redeemable perpetual preferred shares)
Country: US
Sector: Marine Shipping
Listing: NYSE
Final Offer Structure:
- Total: 6,000,000 Series F Preferred Shares (c. USD 150m)
- Primary: 5,400,000 Series F Preferred Shares (c. USD 135m)
- Greenshoe (primary): 600,000 Series F Preferred Shares (c. USD 15m)
Offer Price: USD 25.00 per share
Use of Proceeds: General corporate purposes, which may include vessel acquisitions and/or strategic investments and preferred share redemptions
Berenberg Capital Markets, LLC Role: Co-Manager
Syndicate: Morgan Stanley, UBS, J.P. Morgan, Citi and Credit Suisse (Joint Bookrunners), Berenberg, BNP Paribas and Brock Securities (Co-Managers)
Timing:
- Launch: 21 June 2018
- Pricing: 21 June 2018
Klingelnberg AG
Klingelnberg AG is one of the world’s leading manufacturers of technically state of the art machine tools and equipment for gear machining.
Issuer: Klingelnberg AG
Ticker: KLIN SW
Country: Switzerland
Sector: Capital Goods
Listing: SIX Swiss Exchange (Swiss Reporting Standard)
Final Offer Structure:
- Total: 4,545,651 shares (c. CHF 241m)
- Primary: 440,000 shares (c. CHF 23m)
- Secondary: 4,105,651 shares (c. CHF 218m)
Initial Price Range: CHF 45.00 – CHF 54.00 per share
Final IPO Price: CHF 53.00 per share
Market Cap at IPO: c. CHF 469m
Use of Proceeds: Increasing the Company’s financial flexibility, financing strategic bolt-on acquisitions of small to medium-sized companies and for general corporate purposes.
Berenberg Role: Joint Global Coordinator and Joint Bookrunner
Syndicate: Berenberg and Credit Suisse (Joint Global Coordinators & Joint Bookrunners), Vontobel (Joint Bookrunner)
Timing:
- ITF: 30 May 2018
- Investor Education: 30 May – 8 June 2018
- Bookbuilding: 11 June – 19 June 2018
- First Day of Trading: 20 June 2018
Tekmar Group
Tekmar Group plc is a designer and manufacturer of subsea cable protection technology
Issuer: Tekmar Group plc
Ticker: TGP LN
Country: United Kingdom
Sector: Capital Goods and Industrial Engineering
Listing: London Stock Exchange (AIM Market)
Final Offer Structure:
• Total: 47,536,789 shares (c. GBP 62m)
• Primary: 38,923,077 shares (c. GBP 51m)
• Secondary: 8,613,712 shares (c. GBP 11m)
Selling Shareholder: Elysian Capital (c. 60%), Opera Finance (c. 20%) and existing management (c. 20%)
Initial Price Range: GBp 130.00 – GBp 150.00 per share
Final IPO Price: GBp 130.00 per share
Market Cap at IPO: c. GBP 65m
Use of Proceeds: Funding the cash consideration payable under the Acquisition Agreement to acquire Tekmar Limited, repaying debt within the Group and providing approximately £10 million (before expenses) to fund future expansion and acquisitions
Berenberg Role: Sole Global Coordinator & Sole Bookrunner
Syndicate: Berenberg (Sole Global Coordinator & Sole Bookrunner)
Timing:
• ITF: 21 May 2018
• Investor Education: 21 May – 1 June 2018
• Bookbuilding: 4 June – 14 June 2018
• First Day of Trading: 20 June 2018
home24 SE
home24 SE is the leading pure-play online destination brand for Home & Living in continental Europe and Brazil.
Issuer: home24 SE
Ticker: H24 GY
Country: Germany
Sector: E-Commerce
Listing: Regulated Market of Frankfurt Stock Exchange (Prime Standard)
Final Offer Structure:
• Total: 7,500,001 shares (c. EUR 173m)
• Primary: 6,521,740 shares (c. EUR 150m)
• Greenshoe (primary): 978,261 shares (c. EUR 23m)
Initial Price Range: EUR 19.50 – EUR 24.50 per share
Final IPO Price: EUR 23.00 per share
Market Cap at IPO: c. EUR 600m
Use of Proceeds: Funding the roll-out of its go-to-market approach to all its current geographies, the continued forward integration of its delivery chain, investments into profitable growth, property, equipment and technology, as well as the repayment of outstanding liabilities.
Berenberg Role: Joint Global Coordinator & Joint Bookrunner
Syndicate: Berenberg, Citi, Goldman Sachs (Joint Global Coordinators & Joint Bookrunners)
Timing:
- ITF: 18 May 2018
- Investor Education: 18 May – 1 June 2018
- Bookbuilding: 4 June – 13 June 2018
- First Day of Trading: 15 June 2018
Sixt SE
Sixt is a leading international provider of mobility services. The company offers car rental and leasing solutions tailored to corporate and retail customers.
Ticker: SIX2 GY
Country: Germany
Sector: Business Services / Car Rental
Listing: Regulated Market of Frankfurt Stock Exchange (Prime Standard)
Market Cap pre Transaction: c. EUR 4.6bn
Selling Shareholder: Erich Sixt Vermögensverwaltung GmbH (holding vehicle of the Sixt family), holding pre-transaction c. 61.6% of the pre-transaction share capital in the Company
Offer Structure: Sell-down of 1,010,000 secondary shares (c. 3.3% of pre-transaction share capital, c. EUR 103m)
Offer Price: EUR 102.00 per share
Berenberg Role: Sole Global Coordinator & Sole Bookrunner
Syndicate: Berenberg (Sole Global Coordinator & Sole Bookrunner)
Timing:
- Launch: 05 June 2018
- Pricing: 06 June 2018
Altair Engineering
Altair is a leading provider of enterprise-class engineering software used in simulation technology.
Issuer: Altair Engineering Inc.
Ticker: ALTR US
Country: US
Sector: Technology-Design and Engineering Software
Listing: NASDAQ
Offer Structure: Placement of in total 6,363,424 shares (c. USD 223m), thereof 4,056,004 primary shares (c. USD 142m) and 2,307,420 existing shares (c. USD 81m)
Offer Price: USD 35.00 per share
Use of Proceeds: General corporate purposes, including the acquisition of, or investment in technologies solutions or businesses that are complementary
Berenberg Role: Berenberg Capital Markets, LLC Role: Co-Lead Manager
Syndicate: J.P. Morgan, RBC Capital Markets and Deutsche Bank (Book-Running Managers), Berenberg, William Blair, Canaccord Genuity and Needham & Company (Co-Lead Managers)
Timing:
Launch: 4 June 2018
*Pricing: 6 June 2018
*First Day of Trading: 7 June 2018
PUMA SE for Kering SA
Company: PUMA SE
Ticker: PUM GY
Country: Germany
Sector: Sporting Goods
Listing: Regulated Market of Frankfurt Stock Exchange (Prime Standard)
Market Cap pre Transaction: c. EUR 6.0bn
Distributing company: Kering SA (KER FP), holding c. 85.5% of pre-transaction share capital in the Company
Offer Structure: Distribution of 10,523,276 existing PUMA shares (i.e. c. 70% of pre-transaction share capital) to existing Kering shareholders, resulting in a holding post transaction of c. 15.7% by Kering
Distribution ratio: 1:12 (i.e. distribution of 1 PUMA share per 12 Kering shares)
Total size distributed: c. EUR 4.4bn (based on XETRA closing price, 11/05)
Berenberg Role: Flowback Manager
Syndicate: Berenberg, BNP Paribas, Goldman Sachs, JP Morgan (Flowback Managers)
Timing:
- Ex-date for the distribution in kind and ordinary cash dividend: 14 May 2018
- Distribution of PUMA shares and payment of cash dividend: 16 May 2018
Team17 Group
Team17 Group plc is a UK-based games label, creative partner and developer of independent, premium video games
Issuer: Team17 Group plc
Ticker: TM17 LN
Country: United Kingdom
Sector: Media (Gaming)
Listing: London Stock Exchange (AIM Market)
Final Offer Structure:
- Total: 65,174,682 shares (c. GBP 107.5m)
- Primary: 27,325,482 shares (c. GBP 45.0m)
- Secondary: 37,849,200 shares (c. GBP 62.5m)
Selling Shareholder: Debbie Bestwick (CEO), Lloyds Development Capital, Paul Bray (CFO & COO)
Initial Price Range: GBp 150.00 – GBp 180.00 per share
Final IPO Price: GBp 165.00 per share
Market Cap at IPO: c. GBP 217m
Use of Proceeds: Primarily repaying existing shareholder loans
Berenberg Role: Sole Global Coordinator & Sole Bookrunner
Syndicate: Berenberg (Sole Global Coordinator & Sole Bookrunner)
Timing:
- ITF: 26 April 2018
- Investor Education: 26 April – 7 May 2018
- Bookbuilding: 8 May – 17 May 2018
- First Day of Trading: 23 May 2018
Biocartis Group NV
Biocartis is a Belgian clinical diagnostics company specialising in sample-to-answer molecular diagnostics, with the main application in oncology
Ticker: BCART BB
Country: Belgium
Sector: Diagnostics
Listing: Regulated Market of Euronext Brussels
Market Cap pre Transaction: c. EUR 665m
Selling Shareholder: RMM S.A., the investment vehicle of the Company’s former chairman of the supervisory board, holding pre-transaction c. 7.8% of current share capital in the Company
Offer Structure: Sell-down of 2,000,000 secondary shares (c. 3.9% of pre-transaction share capital, c. EUR 24m)
Offer Price: EUR 12.10 per share
Berenberg Role: Sole Global Coordinator & Sole Bookrunner
Syndicate: Berenberg (Sole Global Coordinator & Sole Bookrunner)
Timing:
- Launch: 17 May 2018
- Pricing: 18 May 2018
HelloFresh SE
HelloFresh is the world’s leading meal kit brand, operating in the United States, the United Kingdom, Germany, the Netherlands, Belgium, Luxembourg, Australia, Austria, Switzerland and Canada
Ticker: HFG GY
Country: Germany
Sector: Online Food
Listing: Regulated Market of Frankfurt Stock Exchange (Prime Standard)
Market Cap pre Transaction: c. EUR 2.0bn
Selling Shareholder: Phenomen Ventures LP, holding pre-transaction c. 7.31% of the pre-transaction share capital in the Company
Offer Structure: Clean-up trade of 11,773,632 secondary shares (c. 7.31% of pre-transaction share capital, c. EUR 130m)
Offer Price: EUR 11.00 per share
Berenberg Role: Sole Global Coordinator & Sole Bookrunner
Syndicate: Berenberg (Sole Global Coordinator & Sole Bookrunner)
Timing:
- Launch: 16 May 2018
- Pricing: 17 May 2018
NFON AG
NFON AG is the only true pan-European service provider of cloud telephone systems
Issuer: NFON AG
Ticker: NFN GY
Country: Germany
Sector: Cloud Telephony
Listing: Regulated Market of Frankfurt Stock Exchange (Prime Standard)
Final Offer Structure:
- Total: 6,100,731 shares (c. EUR 73.2m)
- Primary: 4,166,666 shares (c. EUR 50.0m)
- Secondary: 1,666,666 shares (c. EUR 20.0m)
- Greenshoe (secondary): 267,399 shares (c. EUR 3.2m)
Selling Shareholder: Earlybird Verwaltungs GmbH (c. 34.48% pre-IPO), MIG GmbH & Co. Fonds 9 KG (c. 12.00% pre-IPO), BayernLB Private Equity GmbH (c. 6.40% pre-IPO), BayBG Bayerische Beteiligungsgesellschaft mbH (c. 4.84% pre-IPO), MIG GmbH & Co. Fonds 11 KG (c. 1.29% pre-IPO)
Initial Price Range: EUR 11.93 – EUR 14.00 per share
Final IPO Price: EUR 12.00 per share
Market Cap at IPO: c. EUR 166m
Use of Proceeds: Funding of the Company’s growth strategy, i.e. investments in the continued expansion in Europe with a particular focus on France and Italy and expansion of the business in the Netherlands, as well as investments in R&D and in intensified marketing activities
Berenberg Role: Sole Global Coordinator & Joint Bookrunner
Syndicate: Berenberg (Sole Global Coordinator & Joint Bookrunner), Baader Bank & Oddo BHF (Joint Bookrunners)
Timing:
- ITF: 12 April 2018
- Investor Education: 12 April – 24 April 2018
- Bookbuilding: 25 April – 9 May 2018
- First Day of Trading: 11 May 2018
CEVA Logistics AG
Issuer: CEVA Logistics AG
Ticker: CEVA SW
Country: Switzerland
Sector: Logistics
Listing: SIX Swiss Exchange (International Reporting Standard)
Final Offer Structure:
- Total: 43,636,364 shares (c. CHF 1.2bn)
- Primary (market offering): 29,856,537 shares (c. CHF 821m)
- Primary (cornerstone offering): 13,779,827 shares (c. CHF 379m)
Initial Price Range: CHF 27.50 – CHF 52.50 per share
Final IPO Price: CHF 27.50 per share
Market Cap at IPO: c. CHF 1.5bn
Use of Proceeds: Providing the company with increased financial flexibility to accelerate growth in order to repay debt and deleverage the balance sheet to 2.5x-3.0x Net Debt / Adjusted EBITDA
Berenberg Role: Joint Bookrunner
Syndicate: Credit Suisse, Morgan Stanley (Joint Global Coordinators & Joint Bookrunners), Berenberg, Deutsche Bank and UBS (Joint Bookrunners), HSBC and Vontobel (Co-Lead Managers)
Timing:
- ITF: 9 April 2018
- Investor Education: 9 April – 19 April 2018
- Bookbuilding: 20 April – 2 May 2018
- First Day of Trading: 4 May 2018
HelloFresh SE
HelloFresh is the world’s leading meal kit brand, operating in the United States, the United Kingdom, Germany, the Netherlands, Belgium, Luxembourg, Australia, Austria, Switzerland and Canada
Ticker: HFG GY
Country: Germany
Sector: Online Food
Listing: Regulated Market of Frankfurt Stock Exchange (Prime Standard)
Market Cap pre Transaction: c. EUR 2.0bn
Selling Shareholder: Vorwerk Direct Selling Ventures GmbH, holding pre-transaction c. 3.66% of current share capital in the Company
Offer Structure: Clean-up trade of 5,898,672 secondary shares (c. 3.66% of pre-transaction share capital, c. EUR 65m)
Berenberg Role: Sole Global Coordinator & Sole Bookrunner
Syndicate: Berenberg (Sole Global Coordinator & Sole Bookrunner)
Timing:
- Launch: 3 May 2018
- Pricing: 3 May 2018
MorphoSys AG
Issuer: MorphoSys AG
Ticker: MOR
Country: Germany / USA
Sector: Biotechnology
Listing: ADSs on the Nasdaq Global Market
Final Offer Structure:
- Total: 9,545,000 ADS (c. USD 239m)
- Primary: 8,300,000 ADS (c. USD 208m)
- Greenshoe (primary): 1,245,000 ADS (c. USD 31m)
Final IPO Price: USD 25.04 per ADS
Market Cap at IPO: c. EUR 2.7bn
Use of Proceeds: Along with a portion of the Company’s cash and cash equivalents, available for sale financial assets, and current financial assets classified as loans and receivables, to continue the development of their proprietary clinical pipeline, initiate pre-commercial and commercial activities and to advance earlier stage products as well as for general corporate purposes
Berenberg Role: Co-Lead Manager
Syndicate: Goldman Sachs, J.P. Morgan and Leerink Partners (Joint Global Coordinators & Joint Bookrunners), Berenberg and JMP Securities (Co-Lead Managers)
Timing:
- Bookbuilding: 9 April – 17 April 2018
- Pricing: 18 April 2018
- Greenshoe exercise: 23 April 2018
HelloFresh SE
HelloFresh is the world’s leading meal kit brand, operating in the United States, the United Kingdom, Germany, the Netherlands, Belgium, Luxembourg, Australia, Austria, Switzerland and Canada
Ticker: HFG GY
Country: Germany
Sector: Online Food
Listing: Regulated Market of Frankfurt Stock Exchange (Prime Standard)
Market Cap pre Transaction: c. EUR 2.2bn
Selling Shareholder: Rocket Internet SE, holding pre-transaction c. 43.81% of current share capital in the Company
Offer Structure: Sell-down of 12,200,000 secondary shares (c. 7.6% of pre-transaction share capital, c. EUR 150m)
Offer Price: EUR 12.30 per share
Berenberg Role: Joint Global Coordinator & Joint Bookrunner
Syndicate: Berenberg, BNP Paribas, Deutsche Bank, J.P.Morgan, Morgan Stanley (Joint Global Coordinators & Joint Bookrunners)
Timing:
- Launch: 18 April 2018
- Pricing: 19 April 2018
Godewind Immobilien
Godewind Immobilien AG is a real estate business venture targeting to acquire commercial real estate properties in Germany
Issuer: Godewind Immobilien AG
Ticker: GWD GY
Country: Germany
Sector: Real Estate (Commercial)
Listing: Regulated Market of Frankfurt Stock Exchange (Prime Standard)
Final Offer Structure:
- Total: 93,750,000 shares (c. EUR 375m)
- Primary: 93,750,000 shares (c. EUR 375m)
Fixed IPO Price: EUR 4.00 per share
Market Cap at IPO: c. EUR 435m
Use of Proceeds: Acquisition of commercial real estate properties in Germany
Berenberg Role: Joint Bookrunner
Syndicate: Citi and J.P. Morgan (Joint Global Coordinators & Joint Bookrunners), Berenberg and Société Générale (Joint Bookrunners)
Timing:
- Bookbuilding: 12 March – 27 March 2018
- First Day of Trading: 5 April 2018
Bygghemma Group First AB
bygghemma Group First AB is the leading online provider of home improvement products to consumers in the Nordic region
Issuer: bygghemma Group First AB
Ticker: BHG SS
Country: Sweden
Sector: E-Commerce
Listing: Nasdaq Stockholm
Final Offer Structure:
- Total: 29,647,660 shares (c. SEK 1.4bn)
- Primary: 7,368,421 shares (c. SEK 350m)
- Secondary: 22,279,239 shares (c. SEK 1.1bn)
Selling Shareholder: Funds managed and advised by FSN Capital; Some existing shareholders (incl. Executive Management, Members of the Board of Directors, Employees and other minority shareholders)
Initial Price Range: SEK 45.00 – SEK 50.00 per share
Final IPO Price: SEK 47.50 per share
Market Cap at IPO: c. SEK 5.1bn
Use of Proceeds: Repayment of current outstanding debt
Berenberg Role: Joint Bookrunner
Syndicate: Carnegie (Sole Global Coordinator & Joint Bookrunner), Berenberg and SEB (Joint Bookrunners)
Timing:
- ITF: 27 February 2018
- Investor Education: 27 February – 14 March 2018
- Bookbuilding: 15 March – 26 March 2018
- First Day of Trading: 27 March 2018
RIB Software SE
RIB Software SE is a Germany-based multinational company providing construction and building information modelling software to customers in the architecture, engineering, real estate, and process industries.
Issuer: RIB Software SE
Ticker: RIB GY
Country: Germany
Sector: Software
Listing: Regulated Market of Frankfurt Stock Exchange (Prime Standard)
Market Cap pre Transaction: c. EUR 1.5bn
Offer Structure: 4,684,565 primary shares (c. EUR 131m)
Issue Price: EUR 28.00 per share
Use of Proceeds: Further acceleration of the Company’s growth through significant investments in a number of Managed Services Providers (MSPs)
Berenberg Role: Sole Global Coordinator / Sole Bookrunner
Syndicate: Berenberg (Sole Global Coordinator & Sole Bookrunner)
Timing:
- Launch: 22 March 2018
- Pricing: 23 March 2018
- First Day of Trading: 28 March 2018
MDxHealth SA
Issuer: MDxHealth SA
Ticker: MDXH BB
Country: Belgium
Sector: Diagnostics
Listing: Regulated Market of Euronext Brussels
Market Cap pre Transaction: c. EUR 200m
Offer Structure: 9,989,881 primary shares (c. EUR 36m)
Issue Price: EUR 3.60 per share
Use of Proceeds: Supporting the Company’s stated strategy to grow the business
Berenberg Role: Joint Global Coordinator / Joint Bookrunner
Syndicate: Berenberg, Kempen (Joint Global Coordinators & Joint Bookrunners)
Timing:
- Launch: 21 March 2018
- Pricing: 22 March 2018
- First Day of Trading: 26 March 2018
The Gym Group plc
The Gym Group is the UK’s second-largest operator of low-cost gyms
Ticker: GYM LN
Country: United Kingdom
Sector: Leisure
Listing: London Stock Exchange (Main Market)
Market Cap pre Transaction: c. GBP 325m
Selling Shareholder: Barralina Asset Management, holding pre-transaction c. 3.9% of the pre-transaction share capital
Offer Structure: Clean-up trade for 5,000,000 secondary shares (c. 3.9% of pre-transaction share capital, c. GBP 12m)
Offer Price: GBP 2.37 per share
Berenberg Role: Sole Global Coordinator & Sole Bookrunner
Syndicate: Berenberg (Sole Global Coordinator & Sole Bookrunner)
Timing:
- Launch: 21 March 2018
- Pricing: 22 March 2018
Burford Capital Limited
Burford is the leading litigation finance provider globally. It invests in litigation assets via both its own balance sheet and third-party capital and also has insurance, and asset recovery/new initiatives operations
Ticker: BUR LN
Country: United Kingdom
Sector: Diversified Financials
Listing: London Stock Exchange (AIM)
Market Cap pre Transaction: c. GBP 3.1bn
Selling Shareholder: Mr. Christopher Bogart, holding pre-transaction c. 6.3% of current share capital in the Company, and Mr. Jonathan Molot, holding pre-transaction c. 6.2% of current share capital in the Company
Offer Structure: Placement of 8,680,000 secondary shares (c. 4.2% of pre-transaction share capital, c. GBP 117m)
Offer Price: GBP 13.50 per share
Berenberg Role: Joint Global Coordinator & Joint Bookrunner
Syndicate: Berenberg and Numis (Joint Global Coordinators & Joint Bookrunners)
Timing:
- Launch: 20 March 2018
- Pricing: 21 March 2018
Sirius Real Estate Ltd
Sirius owns a mixed-use commercial property portfolio including business parks in Germany
Issuer: Sirius Real Estate Ltd
Ticker: SRE LN
Country: Germany
Sector: Real Estate
Listing: London Stock Exchange (Main Market)
Market Cap pre Transaction: c. GBP 640m
Offer Structure: 58,333,333 primary shares (c. GBP 35m)
Issue Price: GBP 0.60 per share
Use of Proceeds: Acquiring pipeline assets and support the Company’s growth strategy
Berenberg Role: Joint Bookrunner
Syndicate: Berenberg, Peel Hunt (Joint Bookrunners), PSG Capital ((Joint Bookrunner (South Africa only))
Timing:
- Launch: 20 March 2018
- Pricing: 20 March 2018
- First Day of Trading: 28 March 2018
Siemens Healthineers AG
Siemens Healthineers AG is a leading global medical equipment and services provider focused on Imaging and Diagnostics. The Company holds #1 positions in the majority of its active markets and has a direct presence in 75 countries, selling its products in 180 countries.
Issuer: Siemens Healthineers AG
Ticker: SHL GY
Country: Germany
Sector: Med. Tech / Healthcare Services
Listing: Regulated Market of Frankfurt Stock Exchange (Prime Standard)
Final Offer Structure:
- Total: 150,000,000 shares (c. EUR 4.2bn)
- Secondary: 130,434,783 shares (c. EUR 3.7bn)
- Greenshoe (secondary): 19,565,217 shares (c. EUR 548m)
Selling Shareholder: Siemens AG
Initial Price Range: EUR 26.00 – EUR 31.00 per share
Final IPO Price: EUR 28.00 per share
Market Cap at IPO: c. EUR 28bn
Berenberg Role: Co-Lead Manager
Syndicate: Deutsche Bank, Goldman Sachs, J.P. Morgan (Joint Global Coordinators & Joint Bookrunners), Bank of America Merrill Lynch, BNP, Citi, UBS (Joint Bookrunners), Berenberg, Commerzbank, HSBC, Jefferies, Nordea, Royal Bank of Canada, UniCredit (Co-Lead Managers)
Timing:
- ITF: 19 February 2018
- Investor Education: 19 February – 2 March 2018
- Bookbuilding: 5 March – 15 March 2018
- First Day of Trading: 16 March 2018
Aroundtown SA
Aroundtown focuses on German real estate, with a commercial portfolio worth about €8.0bn and stakes in listed companies Prime City (hotels) and Grand City (residential)
Issuer: Aroundtown SA
Ticker: AT1 GY
Country: Germany
Sector: Real Estate
Listing: Regulated Market of Frankfurt Stock Exchange (Prime Standard)
Market Cap pre Transaction: c. EUR 6.2bn
Offer Structure: 95,000,000 primary shares (c. EUR 606m)
Issue Price: EUR 6.38 per share
Use of Proceeds: Funding of the Company’s growth strategy
Berenberg Role: Joint Bookrunner
Syndicate: Berenberg, Citi, Deutsche Bank and Goldman Sachs (Joint Bookrunners)
Timing:
- Launch: 8 March 2018
- Pricing: 9 March 2018
- First Day of Trading: 13 March 2018
MPC Capital AG
MPC Muenchmeyer Petersen Capital AG
MPC is an independent asset and investment manager focusing on alternative investment opportunities for institutional investors
Issuer: MPC Muenchmeyer Petersen Capital AG
Ticker: MPCK GY
Country: Germany
Sector: Diversified Financials
Listing: Open Market of Frankfurt Stock Exchange (Scale segment)
Market Cap pre Transaction: c. EUR 180m
Offer Structure: 3,042,790 primary shares (c. EUR 17m)
Issue Price: EUR 5.70 per share
Use of Proceeds: Financing the further growth of the Company, primarily through new co-investments in the Real Estate, Shipping and Infrastructure areas
Berenberg Role: Sole Global Coordinator & Sole Bookrunner
Syndicate: Berenberg (Sole Global Coordinator & Sole Bookrunner)
Timing:
- Launch: 1 March 2018
- Pricing: 2 March 2018
- First Day of Trading: 6 March 2018
Corestate Capital
As a real estate investment manager, Corestate Capital Holdings runs a fully integrated business model, offering all relevant services for indirect investments in real estate
Ticker: CCAP GY
Country: Germany
Sector: Diversified Financials / Real Estate
Listing: Regulated Market of Frankfurt Stock Exchange (Prime Standard)
Market Cap pre Transaction: c. EUR 1.1bn
Selling Shareholders: Mr. Ralph Winter, holding pre-transaction c. 28.03% of current share capital in the Company, and Mr. Marcellino Graf zu Hoensbroech, holding pre-transaction c. 9.75% of current share capital in the Company
Offer Structure: Placement of 4,152,186 secondary shares (c. 19.50% of pre-transaction share capital, c. EUR 210m)
Offer Price: EUR 50.50 per share
Berenberg Role: Sole Global Coordinator & Sole Bookrunner
Syndicate: Berenberg (Sole Global Coordinator & Sole Bookrunner)
Timing:
- Launch: 26 February 2018
- Pricing: 27 February 2018
Aumann AG
Aumann is a globally leading supplier of innovative specialised machinery and automated production lines with focus on e-mobility
Ticker: AAG GY
Country: Germany
Sector: E-Mobility
Listing: Regulated Market of Frankfurt Stock Exchange (Prime Standard)
Market Cap pre Transaction: c. EUR 1.0bn
Selling Shareholder: MBB SE, holding pre-transaction c. 49.17% of current share capital in the Company
Offer Structure: Placement of 1,703,700 secondary shares (c. 11.17% of pre-transaction share capital, c. EUR 104m)
Offer Price: EUR 61.00 per share
Berenberg Role: Joint Global Coordinator & Joint Bookrunner
Syndicate: Berenberg and Citi (Joint Global Coordinators & Joint Bookrunners), Hauck & Aufhäuser (Joint Bookrunner)
Timing:
- Launch: 26 February 2018
- Pricing: 27 February 2018
Dermapharm Holding SE
Dermapharm is a leading manufacturer of patent-free branded pharmaceuticals for selected therapeutic areas
Issuer: Dermapharm Holding SE
Ticker: DMP
Country: Germany
Sector: Pharmaceuticals
Listing: Regulated Market of Frankfurt Stock Exchange (Prime Standard)
Final Offer Structure:
- Total: 12,855,000 shares (c. EUR 360m)
- Primary: 3,840,000 shares (c. EUR 107.5m)
- Secondary: 7,860,000 shares (c. EUR 220.1m)
- Greenshoe (secondary): 1,155,000 shares (c. EUR 32.3m)
Selling Shareholder: Founder Wilhelm Beier and his family via Themis Beteiligungs-Aktiengesellschaft
Initial Price Range: EUR 26.00 – EUR 30.00 per share
Final IPO Price: EUR 28.00 per share
Market Cap at IPO: c. EUR 1.5bn
Use of Proceeds: In-house developments and an expansion of manufacturing facilities in Brehna, Germany and a new manufacturing facility in Neumarkt am Wallersee, Austria, increasing its international footprint as well as a partial refinancing of a bridge loan provided to partially finance the acquisition of Trommsdorff
Berenberg Role: Sole Global Coordinator & Sole Bookrunner
Syndicate: Berenberg (Sole Global Coordinator & Sole Bookrunner), Oddo BHF (Co-Lead Manager)
Timing:
- ITF: 15 January 2018
- Investor Education: 15 January – 26 January 2018
- Bookbuilding: 29 January – 8 February 2018
- First Day of Trading: 9 February 2018
ProCredit Holding AG & Co. KGaA
ProCredit Holding is an internationally established and Frankfurt-based group of development-oriented banks for SMEs in South/Eastern Europe
Issuer: ProCredit Holding AG & Co. KGaA
Ticker: PCZ GY
Country: Germany
Sector: Bank
Listing: Regulated Market of Frankfurt Stock Exchange (Prime Standard)
Market Cap pre Transaction: c. EUR 637m
Offer Structure: 5,354,408 primary shares (c. EUR 61m)
Issue Price: EUR 11.40 per share
Use of Proceeds: Financing the continuation of its growth strategy, as it continues to see attractive opportunities to expand its business with small and medium-sized enterprises, especially in Eastern and South Eastern Europe
Berenberg Role: Sole Global Coordinator & Joint Bookrunner
Syndicate: Berenberg (Sole Global Coordinator & Joint Bookrunner), Equinet (Joint Bookrunner)
Timing:
- Launch: 1 February 2018
- Pricing: 2 February 2018
- First Day of Trading: 7 February 2018
Taptica International Ltd
Taptica is a mobile user acquisition platform that uses dynamic user targeting technology to optimise advertising campaigns
Company: Taptica International Ltd
Ticker: TAP LN
Country: United Kingdom
Sector: Media / Online Advertising
Listing: London Stock Exchange (AIM)
Market Cap pre Transaction: c. GBP 305m
Selling Shareholder: MTD PTE Ltd and Smart and Simple Ltd, holding pre-transaction c. 16.9% and 10.1%, respectively, of pre-transaction share capital
Offer Structure: Placement of in total 8,500,000 shares (c. 13.6% of pre-transaction share capital, c. GBP 38m), thereof 4,850,000 primary shares (c. USD 30m) through a capital increase, 2,000,000 existing shares by Smart and Simple Ltd. and 1,650,000 existing shares by MTD PTE Ltd.
Offer Price: GBP 4.50 per share
Use of Proceeds: Reducing the level of debt under the Company’s existing debt facility, which the Board of Directors believes will better position Taptica to capitalise on near-term M&A opportunities
Berenberg Role: Joint Global Coordinator & Joint Bookrunner
Syndicate: Berenberg and Finncap (Joint Global Coordinators & Joint Bookrunners)
Timing:
- Launch: 15 January 2018
- Pricing: 16 January 2018
- First Day of Trading: 22 January 2018
XLMedia PLC
XLMedia is a performance marketing company, specialising in directing high-value users to real-money and social gaming platforms
Company: XLMedia PLC
Ticker: XLM LN
Country: United Kingdom
Sector: Internet / Digital Marketing
Listing: London Stock Exchange (AIM)
Market Cap pre Transaction: c. GBP 420m
Offer Structure: 16,000,000 primary shares (c. GBP 32m)
Issue Price: GBP 1.98 per share
Use of Proceeds: Positioning itself better to take advantage of and fund acquisition opportunities, several of which have already been identified by the board
Berenberg Role: Sole Global Coordinator & Sole Bookrunner
Syndicate: Berenberg (Sole Global Coordinator & Sole Bookrunner)
Timing:
- Launch: 16 January 2018
- Pricing: 17 January 2018
- First Day of Trading: 22 January 2018