Windeln.de – a company DN Capital seeded in 2010- successfully IPOs on the Frankfurt Börshe
Munich, 5 May 2015. windeln.de AG (“windeln.de” or the “Company”), one of the leading and fastest growing online retailers for baby, toddler and children products in Germany, Austria and Switzerland, which has also established a successful e-commerce business of selling baby products to customers located in China, has set the offer price for shares in connection with its initial public offering (“IPO”) at €18.50 per share. The offer price is thus at the mid-point of the price range from €16.50 to €20.50 per share. The offering was well oversubscribed at the offer price.
A total of 11,404,899 shares of windeln.de were placed, thereof 5,400,000 newly issued ordinary bearer shares from a capital increase, 4,517,304 existing ordinary bearer shares from the holdings of the selling shareholders, and 1,487,595 existing ordinary bearer shares in connection with an over-allotment. In connection with the overallotment, existing shares are borrowed from certain selling shareholders, which could be settled with newly issued shares from the Company (“Greenshoe Option”).
“We are particularly happy with the strong demand for the windeln.de shares and are looking forward to the first trading day. The positive responses that we have received from investors confirm the attractiveness of our business model”, said Alexander Brand, management board member and co-founder of windeln.de. Konstantin Urban, management board member and co-founder of windeln.de, added: “We believe that windeln.de is very well positioned to capture the opportunities of our market. The IPO will help us to continue on our growth path.“
The total offer volume amounts to approximately €211 million (including over-allotment) based on the offer price. The Company will receive gross proceeds of approximately €100 million from the sale of the new shares. Provided that the Greenshoe Option is exercised, resulting in the issue of additional new shares, the total gross proceeds for the Company amount to approximately €127 million. All main existing shareholders of windeln.de will remain invested in the Company. The resulting initial free float will amount to approximately 42 percent of the Company’s post-IPO share capital, assuming full exercise of the Greenshoe Option. The shares of windeln.de will be traded on the regulated market (Prime Standard) of the Frankfurt Stock Exchange under the ticker symbol WDL from 6 May 2015 (WKN: WNDL11, ISIN: DE000WNDL110).
BofA Merrill Lynch, Deutsche Bank and Goldman Sachs International are acting as Joint Global Coordinators and Joint Bookrunners. Berenberg and COMMERZBANK have been mandated as additional Joint Bookrunners.