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Allen & Overy advises Hapag-Lloyd on successful IPO

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Schaefer Helge
Dr Helge Schäfer



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06 November 2015

Allen & Overy LLP has advised Hapag-Lloyd AG, one of the world’s leading container shipping companies, on the successful IPO on the regulated market (Prime Standard) of the Frankfurt Stock Exchange and on the regulated market of the Hamburg Stock Exchange.

At the start of trading today, the shares were being offered at EUR 20 each. In the context of the offering, a total of up to 15,212,978 shares (including 15 per cent over-allotment option) were placed.

The company plans to use the gross proceeds of approx. USD 300 million from the issuance of 13,228,677 new shares for investments in vessels and containers. The core shareholders Kühne Maritime and Compañía Sud Americana de Vapores (“CSAV“) participate with USD 30 million each in the capital increase as part of their cornerstone agreement. The 1,984,301 over-allotment shares are provided from the existing holdings of TUI-Hapag Beteiligungs GmbH. With this the total placement volume amounts to approximately USD 345 million subject to the full exercise of the greenshoe option.

The Allen & Overy team comprised partners Dr Oliver Seiler (International Capital Markets, Frankfurt), Dr Helge Schäfer (Corporate/M&A, Hamburg), Marc O. Plepelits (US Corporate Finance, Frankfurt), Thomas Neubaum (Banking, Frankfurt), counsels Bianca Engelmann (Banking, Frankfurt), Dr Jonas Wittgens (Corporate, Hamburg), and Dr Jens Wagner (Corporate, Munich), senior associates Simon Weiß, David Rath and Dr Camilla Kehler-Weiß as well as associate Nadine Kämper Rath (all International Capital Markets, all Frankfurt).