Allen & Overy advises Summit Partners on the IPO of Westwing
Frankfurt am Main — Allen & Overy LLP advised Summit Partners on the successful IPO of Westwing Group AG on the regulated market (Prime Standard) of the Frankfurt Stock Exchange.
Due to strong investor demand during the offering period, Westwing had accelerated the IPO timeline and brought forward the first trading day to October 9, 2018. Under the offer, 5.06 million new shares were issued, including 660,000 shares to cover over-allotments. The issue price was set at 26 euros per share. The gross issue proceeds of around 132 million euros are to be used primarily for investments in further growth.
Westwing is the leading brand and platform in home & living eCommerce in Europe and generated sales of 220 million euros in 2017. The company was founded in 2011, has its headquarters in Munich and is active in eleven European countries.
The Allen & Overy team included the Partner Dominik Stühler (Photo, Corporate/Private Equity, Munich; Lead), Dr. Alexander Behrens, Dr. Knut Sauer and Marc O. Plepelits, Of Counsel Frank Herring (all Capital Markets, Frankfurt), Counsel Dr. Kai Terstiege, Senior Associates Tobias Hoppe (both Corporate/Private Equity, Munich) and Lennart Dahmen (Capital Markets, Frankfurt) and Associate Elisabeth Pichler (Corporate/Private Equity, Munich).