The German IPO market is on course to experience its best-ever first half-year, with IPOs raising more than €8 billion until June. The previous high was €7.3 billion and dates back to 2018.
 
S&C is leading the way in this unique market, advising on eight successfully completed IPOs/Frankfurt listings in the first half-year, including three major German e-commerce IPOs in the last three weeks. With S&C acting as issuer's counsel in Frankfurt, the Firm's transaction highlights during the last weeks include advising:

• ABOUT YOU, valued at €3.9 billion post-IPO, which started trading on the Frankfurt Stock Exchange on June 16 following a private placement of newly issued shares and existing shares sold by management. The private placement had a total offering size of €842 million. ABOUT YOU is one of the largest fashion and lifestyle platforms in Europe, with €1.2 billion in revenue for the fiscal year ending February 2021 and more than 30 million unique monthly active users in 23 European markets. 
   
• Bike24, valued at €662 million following its private placement on the Frankfurt Stock Exchange on June 25. Bike24 operates one of the leading cycling e-commerce platforms in continental Europe and is a portfolio company of the Riverside Company.
   
• Mister Spex, Europe's leading omnichannel optician, with a market cap of c. €829 million ahead of its first day of trading on the Frankfurt Stock Exchange. EssilorLuxottica, a global leader in the design, manufacture and distribution of ophthalmic lenses and frames, has agreed to purchase shares worth €50 million as cornerstone investor.