Initial Public Offerings (IPOs), Capital Increases / Secondary Public Offerings (SPOs), Being Public

We advise our clients on the route to the successful IPO. Jointly, we develop the equity story, choose the adequate stock market segment and select the syndicate banks.

For our listed clients, we offer advisory services in all aspects of "being public". This includes capital increases, control of shareholder structure, or change of the stock market segment or exchange.

Public Takeovers (Public M&A)

We support our clients during the preparation and planning of a takeover offer, the valuation of the target company, the negotiations with target company's shareholders and secure a stringent implementation of the takeover process. Here we build both on our core M&A expertise and our vast capital markets experience.

Defense Advisory

We advise target companies during a public takeover based on our transaction and capital market background. We support negotiations with the potential acquirer, analyse the takeover offer and support the preparation of the statement by the board of directors and the supervisory board. In order to qualify the fairness of the offer price, we provide a market standard fairness opinion. Our range of services is complemented by developing and implementing alternative scenarios in case of attempted hostile takeovers.

Fairness Opinion

We support our clients in forming an opinion on the adequacy of valuations during company transactions. This comprises the evaluation of offer prices within the framework of a public takeover offer as well as valuations in the context of transactions involving non-listed companies. Our opinions apply valuation methods in line with international market standards.

Delisting / Going Private

We advise on the capital markets strategy during the delisting process. We assess alternatives ranging from share buy-backs through control of shareholder structure to compensation of remaining free float shareholders (squeeze out).

Bonds

We support in the preparation of bond issues, particularly regarding the selection of the adequate stock market segment and issuing bank, as well as structuring and pricing of the issue. We support our client during the rating processes and assume the entire project management to the listing.