Skip Ribbon Commands
Skip to main content
Sign In



Allen & Overy advises Berenberg on cyan AG's capital increase


10 July 2019

Allen & Overy has advised the German private bank Joh. Berenberg, Gossler & Co. KG ("Berenberg") as sole global coordinator and sole bookrunner on the successful placement of newly issued shares in cyan AG ("cyan") in the context of a 10% cash capital increase with subscription rights being excluded.

The 888,594 new no-par value bearer shares were placed exclusively with institutional shareholders outside the United States of America in line with the U.S. Securities Act of 1933 (the "Securities Act") and, within the US, exclusively with "qualified institutional buyers" in line with rule 144 A of the Securities Act.  The placement price, which was determined by way of accelerated bookbuilding, was EUR 28.00 per share. The placement has generated funds of EUR 24.9 million for cyan. The shares are scheduled to be included in the existing listing on the open market (Scale) of the Frankfurt Stock Exchange on 11 July 2019. Delivery of the new shares is planned for 12 July 2019.

Cyan, which has registered offices in Munich and Vienna, is a leading global provider of intelligent white label IT security solutions with more than 15 years' experience in the field of IT security. The company's main business activities lie in providing mobile security solutions for the end customers of MNOs and ISPs, MVNOs, insurance and finance companies, as well as public institutions. Cyan AG plans to use the funds generated by the capital increase to expand the organisational structure of the cyan Group, to invest in research and development and to increase market penetration.

The Allen & Overy team was led by partner Dr. Knut Sauer and also included senior associate Nadine Kämper (both Equity Capital Markets). Partner Marc O. Plepelits and senior associate Martin Schmidt (both US Corporate Finance, all Frankfurt) advised on US law issues.

Berenberg's in-house transaction team comprised Christian Wöckener-Erten (Associate Director and in-house legal counsel) and Marc Christian Gei (Global Head of Corporate Finance Legal).




News search

Related people

  • Add comment (optional)