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Noerr advises Rocket Internet on home24’s IPO in Frankfurt

Noerr has advised Rocket Internet on the successful IPO of home24 SE. The company’s shares are now trading on the regulated market (Prime Standard) of the Frankfurt Stock Exchange.

The shares of the leading European online home & living e-commerce platform were offered in a public offering in Germany and Luxembourg as well as through private placements in certain other jurisdictions. With a final offer price of EUR23.00 per share, market capitalisation – after full exercise of the greenshoe option – amounts to around EUR600 million. The first trading price was EUR28.50.
 
Gross proceeds from the IPO come to around EUR150 million, or EUR172.5 million if the greenshoe option is fully exercised. All net proceeds from the offer will go to home24. As part of the IPO, Rocket Internet acquired shares worth EUR22 million and still holds more than 30 per cent of the shares in the company after the IPO.
 
As home24’s largest shareholder, Rocket Internet relied on the advice of Noerr during the IPO. The firm has recently overseen numerous major IPOs. These include in particular the initial public offering of HelloFresh, the billion-euro IPO of Delivery Hero (also on the Rocket Internet side) and the NASDAQ IPO of Trivago.

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