Network Corporate Finance advised Derby Cycle AG, Cloppenburg, on the preparation and implementation of the initial public offering in the official market (prime standard) of the Frankfurt Stock Exchange.
|Project type:||Capital Market Transactions|
|Description:||IPO Prime Standard|
In a public offer, Derby Cycle AG, Cloppenburg, placed 1,500,000 ordinary shares from a capital increase, as well as 4,590,000 ordinary shares (incl. Greenshoe) from an existing shareholder's holding. The total issue volume, including full overallotments, amounts to EUR 76.1 million at an issue price at EUR 12.50 per share, giving Derby Cycle a market cap of EUR 93.8 million. The financial investor FINATEM acquired Derby Cycle in an MBO transaction in 2004. FINATEM divested almost its entire stake via the public offering. The placement marks the first domestic IPO in 2011.
Derby Cycle is the strongest selling bicycle manufacturer in Germany and one of the leading suppliers in Europe. The Derby Cycle Group’s top-quality product range includes e-bikes, sport bikes for leisure cycling and competition, and comfort bikes for every day and travel use. These are sold using the well-established brands of Kalkhoff, Focus, Raleigh, Univega and Rixe. In fiscal year 2009/2010 the company recorded revenues of EUR 173 million with an average of approx. 550 employees.