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07/04/2011 / GERMANY / EQUITY CAPITAL MARKETS
Crédit Agricole CIB and CA Cheuvreux successfully execute the IPO of Adler Modemarkte AG
In Germany Crédit Agricole CIB acted as global co-ordinator and sole bookrunner - in collaboration with CA Cheuvreux – to successfully execute the Initial Public Offering of Adler Modemärkte AG on the Main Board (Prime Standard) of the Frankfurt Stock Exchange.
In a currently very depressed equity market environment where most of planned IPOInitial Public Offering. Initial listing of a portion of a company's capital on the stock market, with or without a capital increase. This is a favoured exit strategy for private equity investors looking to unlock the value of their investment.s have been postponed or cancelled, the offering was priced on 21 June 2011 at EUR 10 per share, raising a total of EUR 111.6 million (or EUR 101.1 million pre-Greenshoe) of which EUR 26.5 million represent primary proceeds for the company. The post IPO market capitalisation is EUR 185 million with a free float of approximately 55% (60% post-Greenshoe).
In a currently very depressed equity market environment where most of planned IPOInitial Public Offering. Initial listing of a portion of a company's capital on the stock market, with or without a capital increase. This is a favoured exit strategy for private equity investors looking to unlock the value of their investment.s have been postponed or cancelled, the offering was priced on 21 June 2011 at EUR 10 per share, raising a total of EUR 111.6 million (or EUR 101.1 million pre-Greenshoe) of which EUR 26.5 million represent primary proceeds for the company. The post IPO market capitalisation is EUR 185 million with a free float of approximately 55% (60% post-Greenshoe).
This placement attracted especially interest from long-only institutional investors based in Germany, Austria and the United Kingdom.
CA Cheuvreux in Germany was appointed as designated sponsor and market maker. The settlement was structured and executed by CACEIS Bank Deutschland and CACEIS France.
Adler Modemärkte is one of the leading textile retailers in Germany, Austria and Luxembourg in the value price segment for customers over 45.
CA Cheuvreux in Germany was appointed as designated sponsor and market maker. The settlement was structured and executed by CACEIS Bank Deutschland and CACEIS France.
Adler Modemärkte is one of the leading textile retailers in Germany, Austria and Luxembourg in the value price segment for customers over 45.