IPO: Online credit broker Creditshelf raises 16.5 million euros
Thetotal market capitalization is approximately 106.5 million euros with a free float of more than 20 percent The first day of trading of the securities on the regulated market (Prime Standard) of the Frankfurt Stock Exchange is expected to be July 25.
Founded in 2014, the company brokers loans to small and medium-sized enterprises on its digital platform. Creditshel CEO Tim Thabe says the IPO is intended to fuel the company’s growth. The medium-term goal is a brokered loan volume of around 500 million euros per year. From the launch of the platform in 2015 to the end of March 2018, it was about 58 million euros. — In order for the IPO to succeed, Elgeti had placed a so-called backstop order for up to 15 million euros through his company Hevella Capital, so that he would not acquire shares subscribed by other interested parties. This was not taken up.
In terms of going public, the company has a “first mover” effect in several respects. Creditshelf is one of the first representatives from the fintech sector to realize an IPO in this country and the first credit intermediary to rely on an Internet platform.
Bookrunner: Commerzbank AG acts as Sole Global Coordinator and Sole Bookrunner
Financial advisor: Lazard