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IPOs are back in vogue

30 Jun 2017

IPOs are back in vogue Three companies go public in a single week

In Germany, the number of IPOs remains low, especially by international standards. The current conditions for an IPO in Germany are, however, excellent. While 2016 already saw good figures with the second-largest IPO worldwide, innogy SE, as well as three further IPOs, market experts forecasted increased activity for 2017. And looking at the most recent developments at the Frankfurt Stock Exchange, their predictions seem to hold true: in a single week, three very interesting companies have gone public.

Welcome to Prime Standard, Vapiano SE

The first IPO was that of restaurant chain Vapiano 15 years after its founding. The issue volume of the IPO was around €184 million. When it was founded in 2002, Vapiano introduced an new category into the foodservice industry with its “fresh casual dining” concept.  From Hamburg, the restaurant chain expanded across more than 30 countries on five continents and currently counts 186 restaurants. Headquartered in Bonn, Germany, the company’s 2016 turnover was €460.4 million. The profits from the IPO will be reinvested into the opening of dozens of new restaurants worldwide.

 

Welcome to Prime Standard, Delivery Hero AG

On 30 June, Delivery Hero followed suit. The company is the leading global online food ordering and delivery marketplace, offering its services through online and mobile platforms in more than 40 countries in Europe, the Middle East and North Africa (MENA), Latin America and the Asia-Pacific region. The IPO’s issuing volume was approximately €1 billion. The first price was €26.90, the issuing price was €25.50.

 

Welcome to Scale, Noratis AG

One of the neighbours of Deutsche Börse’s corporate headquarters The Cube in Eschborn, Noratis AG, also went public on 30 June with an issuing volume of more than €17 million. The first price was €18.75, the issuing price was €18.75. Noratis operates throughout Germany, investing in residential properties with development potential, mostly company housing, quarters or housing estates dating from the 1950s to 1970s in towns with a population over 10,000 and on the outskirts of metropolitan areas. The properties are upgraded through value enhancing development measures and sold at a profit, either through block or retail sales measure.

 

Altogether, it has been an eventful week on the trading floor of the Frankfurt Stock Exchange. And the trend seems to be holding up: a further three IPOs have already been announced. Deutsche Börse CEO Carsten Kengeter, who was present on the floor today, concluded: “This week’s IPOs are a good signal for our start-up community and for the SME segment in Germany”.

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